This is a premium UPRO trade setup based on the 30 day 1 min chart…where I’d place stops to buy, and stops to sell to maximize gain and minimize loss if it’s a 5th wave and not a Wave 3..potential move to 80-82 if the full 1.618 move develops [ms-protect-content id=”61,117″]
The setup: 1-2-3 would be 80-82 if it ends up being a full upward 3, but just 69-69.5 if it’s just a W5…Buying above 68.25 or at 68.25 is a good entry, but in case this W3 attempt fails I’d place a stop to sell at 67.40 or about .618 of the entire rally that gapped up today.
Maximum gain: 80-82 at 1.618, but anything above 72-73 is being greedy (that’s 618 X w1+ W3)
Maximum loss: About .80-$1 if the Wave 3 complete flops and it ends up being a 5th wave. [/ms-protect-content]