I am predicting another 3-drive spike corresponding to a bearish butterfly pattern located on the chart. I attempted to locate the most preferred entry point using previous price movement intermediate between spikes, as indicated by ABCD ratios and the previous bullish gartley pattern that preceded the most recent spike. Unfortunately, this gave a rather large range around the fib level 0.786. Therefore, I suggest manual entry on this bad boy. The price is eventually headed to 5.03 which is indicated by a bearish butterfly on the Monthly chart. I will post the chart below.
Kommentera:
This would be a long hold; however, if you are into investing long-term, it appears that you can risk almost nothing here for an approximate a return in 2-3 years of 84:1 RR.
