ORCL LONG: Three Rising Valleys Breakout & Throwback
By:TradingView
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Oracle (ORCL) has formed a textbook "Three Rising Valleys" bottom structure, breaking the massive downtrend. We saw a high-volume breakout above the $165 neckline, followed by the current low-volume throwback. Perfect conditions for a Wave 3 impulse.
The Plan:
Entry: Limit Buy around $154.50 (Buying the dip / Throwback zone). No chasing.
Target: $190.50 (Wave 3 extension target & R/R alignment).
Stop Loss: $139.50 (Placed safely below the last valley / W2 low. A daily close below invalidates the setup).
Risk/Reward: ~2.4
Rule: Cancel the limit order if it doesn't fill or reverse within the next 5–8 trading days. Breakout momentum will be dead by then.
The Plan:
Entry: Limit Buy around $154.50 (Buying the dip / Throwback zone). No chasing.
Target: $190.50 (Wave 3 extension target & R/R alignment).
Stop Loss: $139.50 (Placed safely below the last valley / W2 low. A daily close below invalidates the setup).
Risk/Reward: ~2.4
Rule: Cancel the limit order if it doesn't fill or reverse within the next 5–8 trading days. Breakout momentum will be dead by then.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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