KLR Retest of breakout, beginning wave 3
I-H/S
Looks like beginning wave 3
Clear retest of previous breakout at 6.40 (6.21 low of retest was just below 0.5 fib from June low)
Holding above 200ma
Last few days held 9ema, sitting right there now.
Possible ABC correction brings it back to the 200ma at 6.63 (better R/R)
If correct, wave three would put this at 12.77 (1.618 fib)
Normally would expect a minimum of 11.37 (1.272 fib) however 10.44 was previous long traded price and will definitely serve as major resistance if it gets there.
That said, low float on this one and could get a runner.
SL 6.14 (below retest of breakout)
Looks like beginning wave 3
Clear retest of previous breakout at 6.40 (6.21 low of retest was just below 0.5 fib from June low)
Holding above 200ma
Last few days held 9ema, sitting right there now.
Possible ABC correction brings it back to the 200ma at 6.63 (better R/R)
If correct, wave three would put this at 12.77 (1.618 fib)
Normally would expect a minimum of 11.37 (1.272 fib) however 10.44 was previous long traded price and will definitely serve as major resistance if it gets there.
That said, low float on this one and could get a runner.
SL 6.14 (below retest of breakout)
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