Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

Quick! ABC correction or 3rd wave of Elliot Wave pattern?

Hmm… I choose the latter-  3rd wave of the Elliot Wave pattern.  Take a look at the $RPTP daily chart below:


Since this is a biotech company, the 3rd wave will be quite a sight to see IF it is the 3rd wave.  My target for the 3rd wave is $6.


it could be an ABC correction which, in this case, will probably penetrate the resistance at $5.29 before heading back down.

Roll the dice, close your eyes, and cross your finger… Just kidding, this is not how you trade stock!

I will put a stop below the B wave if this is an ABC correction pattern.

My 2 cents.

Yeap, I bought a starter position on $RPTP.  If price action takes out resistance at $5.29, I will add more.

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