"It looks like a top - at least for now." ... Agree @paddington bear ... So bought my 1st re-entry tranche of BBUS's this morning. Looks very much like a form of 5Point Bottoming pattern(one form of Broadening Pattern), or more simply, a Triple Low. Anyway, Pt 6? is the 'classical' objective(Time and Price ... 28 Dec @ $2.575), once pt 5? has been confirmed ... i.e. above Pt.1. Now, since that is only @ $1.82, a mere 3% away(or just 2 mild down night's away on the SP500), I'd be giving another few % points to be sure ... say betwx $1.86 and $1.91 depending on your risk/reward trading style.... That's where I have my 2nd tranche order.
Now, since point 5? hasn't been confirmed, and can often fall below the pt.1 to pt3 TL extended(like a false breakdown) by between 3 to 5% I'd be happy to hold my position, and in fact add to(2nd tranche alternative), somewhere just below $1.70.
Just me with me trading within my trading risk/reward plans.
NOTE: ... Trading BBUS can be 'messed' up a bit by the fluctuating AUD/US$ rates just like trading exposure to any other US equities so an added risk or reward.
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