Technical analysis by Ingvar77 about Symbol S: Buy recommendation (5/19/2023)

Possible setup:Wave 4 is unveiling it self as a triangle for an upside to complete wave 5. A key level on 0.3482 (Wave C of triangle) and a Wave 5 target on 0.8389 gives this setup a good risk to reward ratio. The triangle thrust could reach the 0.6549 key level and would be a nice place to take profit and move the stop loss up. If the key level is taken out the a wave 5 target on 0.8389 could be next. A more conservative approach would be to wait for wave E to complete and take out the extreme of wave B.