Using our Indicator Suite for the TradingView Platform we have identified a potential Short SwingTrading 5th Wave Opportunity on TRV . Above all, the 5th wave move in an elliottwave sequence is the highest probability move.
The wave 4 pull back after the gap down has found resistance in the green zone of our probability pullback zones. Which represents an 85% probability that our automated 5th wave target zone, in blue on the chart will be hit.
We see yellow dots formed in the oversold zone on our special False Breakout indicator. Which signals strong momentum. When, during a wave 4 pullback, the pulls back against these false break out dots and crosses in the overbought zone, there is a high probability the stocks price action will resume the overall .
We also measure the wave 4 behaviour with our Elliottwave oscillator, which has pulled back within our pre-determined zone.
So overall we have identified, using our Indicator suite for TradingView, a high probability short swingtrading opportunity on TRV with the following entry strategy:
Short entry through $132.22
Stop Loss $136.22
Giving a Risk to Reward over 1:1.6
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