There is a nice trade setup for GOOG.
Let’s look at the chart. If you look at the price pattern, it looks like we on the last of the EW5 leg. The buying momentum is slowing down too according to our Oscillator. We made a higher high without the Osc making a higher high. Also, the Kijun Sen (green) is indicating we are in a consolidation mode. Price is far away from the Tenken Sen(red) and the Kijun Sen(green) so it will have to equalize soon. The Kijun Sen is at the 500 price market..
Now, how should we trade what we just analyzed. The best low risk strategy is a directional butterfly. I am going to choose the “mouth” of the butterfly right at 500.
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