KNL is at a Strong Support Level
Similar to SB, KNL is the second good Elliot Wave setup that we want to alert today. KNL has the score as of 0, which is more than average.
Bayesian Probability is 43% of winning, Reward Risk ratio is 4.5, which is higher than the SB setup
KNL has good background where we can see an uptrend from 10/2011. The current setup is formed within anuptrend channel from 06/2012. Price is at the point with high probability of resuming the existing uptrend to form higher high.
One additional point that we would like to point out in this setup is its current location. The setup is right above a really strong support level. This support level is at the hight of the ultra high volume bar on 2013.02.06. These ultra high volume bar can serve as an important price level.
This setup is suitable for a long setup by pending today price’s high. The entry should be 16.53. Be patient and wait for the price come to serve you. Do not catch it if it continues to fall.
Similar to SB, KNL is the second good Elliot Wave setup that we want to alert today. KNL has the score as of 0, which is more than average.
http://www.tradeomatic.net/wp-conten...14/01/KNL1.png
KNL on uptrend channel
Bayesian Probability is 43% of winning, Reward Risk ratio is 4.5, which is higher than the SB setup
KNL has good background where we can see an uptrend from 10/2011. The current setup is formed within anuptrend channel from 06/2012. Price is at the point with high probability of resuming the existing uptrend to form higher high.
One additional point that we would like to point out in this setup is its current location. The setup is right above a really strong support level. This support level is at the hight of the ultra high volume bar on 2013.02.06. These ultra high volume bar can serve as an important price level.
This setup is suitable for a long setup by pending today price’s high. The entry should be 16.53. Be patient and wait for the price come to serve you. Do not catch it if it continues to fall.