Thoughts on BYD?
@The Investor:
Hi fellow investors! I have an excellent setup here $BYD COMPANY(01211)$ On the H4, with price breaking out of the ascending trendline and moving below the ichimoku indicator, we have a bearish bias that price will drop to sell entry at 244.4 where the 50% fibonacci retracement, 61.8% fibonacci projection, -27.2% fibonacci expansion and pullback support are. Should price break entry structure, we would expect bearish momentum to carry price to take profit at 204.4 where the swing low support, 78.6% fibonacci retracement and 78.6% fibonacci projection are. Alternatively, price could rise to stop loss at 287.2 where the pullback resistance is.Entry: 244.4 [Smile] Take Profit: 204.4 [Miser] Stop Loss: 28