Whitbread : WTB.L

Ive added to the short on the back test of the trend line again this morning.
My stops are above 2475 so was a very small risk trade when i entered
This is from the interesting chart section a few weeks ago

As usual, this is a long-term view to give an indication of where this is going.

As usual, there is more than one option .....but they all point south in one degree or another

Option (i). The current wave is a wave 4 and wave C is not yet complete. In which case expect this to retrace to 2178, or 38.2 fib of wave 3.

Option (ii). Wave C is complete and this will retrace to the target area between 50 & 61.8 fib of wave C. Looking for a support in that area immediately shows up 1968, being the top of wave A.

Option (iii). This could retrace the entire ABC move and the target area would then be between 1573 and 1308. In which case 1344 would make a great target.

This one back tested the neckline again. Stops should be above yesterdays high at 2475 if entered for a second time on a short
This is risky as its the second time to test this in a week

This back tested the head and shoulders breakout point yesterday and then dropped.
So nice profit on this. It should be a free trade now.
This is from the interesting chart section again