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USD/CAD: technical analysis 15 October 2019, 12:43

USD/CAD: technical analysis 15 October 2019, 12:43 Scenario Timeframe Weekly Recommendation BUY STOP Entry Point 1.324...

Oct 9, 2019

IBM Corp.: wave analysis 09 October 2019, 09:59


Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 138.34
Take Profit 128.71, 121.25
Stop Loss 147.29
Key Levels 121.25, 128.71, 147.29, 152.70, 162.40
Alternative scenario
Recommendation BUY STOP
Entry Point 147.35
Take Profit 152.70, 162.40
Stop Loss 145.56
Key Levels 121.25, 128.71, 147.29, 152.70, 162.40
The price may fall.
On the 4-hour chart, an upward correction of the higher level ended as the wave (4) of C, and the development of the wave (5) started. Now, the first wave of the lower level 1 of (5) has formed, and the upward correction 2 of (5) has developed. If the assumption is correct, the price will fall to the levels of 128.71–121.25 within the third wave 3 of (5). In this scenario, critical stop loss level is 147.29.


Main scenario
Short positions will become relevant during the correction, below the level of 147.29 with the targets at 128.71–121.25. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 147.29 will let the price grow to the levels of 152.70–162.40.

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