$DIS – Swing –
@KyleTemplin@InvestingAngles
UPDATE
STOP UPDATED TO: $81.48
Risk is reduced to ~ $1/share.
The 3-day candle closed today as a bullish engulfing candle, suggesting more upside over the next candle period.
The 2-day candle closed as a continuation candle of the bullish engulfing from the prior session (perhaps the 3-day candle will experience a similar follow-thru?).
The daily candle managed to close the gap, but not decisively.
This 5-day candle will close tomorrow, and if it can close as a bullish engulfing candle, then a very short-term bottom will be in place.
If the above area of interest can hold as support, then this instrument has a good chance at continuing its path higher.
GLTA!
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This instrument has met the criteria to long via spot, and this alert was provided in the Discord today during RTH.
Enter price ~ $82.50
Stop: $81.18
Risk ~ $1.32
Target 1 = $100 R/R = 13.26
One shouldn’t risk more than 1/2% of their account on this set-up, and if interested in taking on a position, it could be beneficial to layer into a full position over the next few days.
Last Friday’s candle bullishly engulfed the three prior sessions, and today’s candle was a continuation of that short-term trend. There is the potential for this to have just filled the gap, then reverse down, but seeing as the risk is very low and there are enough counts off the lows to justify at least one more 5-wave structure higher, then this qualifies for a swing play.
The long-term EW count is below, and because of where this is in its potential count, it is suggested to not risk more than 1/2 % of your trading account on this set-up.
If the below 3-day candle can stay as a bullish engulfing candle by close of tomorrow, then this swing set-up gets some strong support.
GLTA!
For all important and up to date posts visit our Telegram link:
Previous Write-Ups Below:
None
Trading involves risks, and you are responsible for your own trades and decisions. The information provided above is for entertainment purposes only and is not a recommendation to purchase anything related to this instrument or other instruments of similar composition.
