SMCI Long Setup (4H Timeframe)

27 нояб. 2024 г.

🚀 SMCI Long Setup (4H Timeframe) 🚀

🔍 Trading Plan
This setup aligns with Elliott Wave theory, showing potential for Wave 5 development supported by the demand zone and Fibonacci retracement/extension levels.

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📉 Trade Details
- Entry: ~$34.93
- Price is near a demand zone, aligning with the 0.5 Fibonacci retracement level of Wave (4). This suggests potential upward momentum as Wave 5 begins to form.
- Stop-Loss : $30.24
- Placed below the demand zone and 0.618 Fibonacci retracement of Wave (4) to protect against invalidation of the setup.
- Take Profit Targets:
1. Target 1: **$42.37**
- Corresponds to the 0.618 Fibonacci extension of the projected Wave 5.
2. Target 2 : $47.53
- Matches the 1.0 Fibonacci extension of Wave 5, indicating full potential completion of this wave.
3. Target 3 : $55.90
- A higher price level within a supply zone, representing an extended Wave 5 target.

📊 Wave 5 Development
The price action suggests that Wave 5 has strong potential for development. Elliott Wave theory predicts that Wave 5 is the final impulse wave in the trend, which could align with broader bullish momentum and demand zone confluence. Wave 5 is projected to reach key Fibonacci extension levels, marking potential profit zones.

📊 Risk-Reward Ratio (RRR)
T1: ~1:1.3
T2: ~1:2.3
T3: ~1:3.6

Trade smart and may the market favor your strategy! 🚀

**⚠️ Disclaimer**
This analysis is for educational purposes only and does not constitute financial advice. Trading involves risk, and you should only trade with funds you can afford to lose. Always conduct your own analysis and consult a financial advisor.



#Wave5 #DemandZone #ElliottWaveTheory #TradingPlan