Monday, November 21, 2005

Amgen Elliott Wave Update

Trading strategy 1. Move stop loss to 80.3 If the stop loss is hit we will update the outlook. There is no change in the outlook compared to the previous week. The price is moving to the target area. Probably now we observe the final fifth wave in the impulsive structure of a zigzag which should complete at around 90. Our trading strategy would be to lock in potential profit by setting stop loss approximately one average true range below the close price. It roughly corresponds to the end of the potential corrective wave 4 in the current pattern.

No comments: