TripAdviser (TRIP): Breakout!!

SUMMARY

Trip Adviser (TRIP) had climbed a five wave streak only to correct very deeply to about 88% retracement....ouch! However, when is the best time to buy? It's almost always at the terminal end of a major correction! The downward wedge (blue) was quite massive but check out the price breakout!!

I believe TRIP will start impulsing upwards as shown (white). The white wave 5 target is about $94.76 or so. The MACD is also moving within a parallel channel as shown in the below chart. This channel should continue supporting the coming impulse!

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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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