RWM harmonic pattern update and target hit

Travellers International Hotel Group, Inc.

RWM filled the previous gap at 3.30~3.36 and hit the 2nd retracement target (61.8% retracement) after a reversal from Bullish Butterfly harmonic pattern.

See previous analysis of this harmonic pattern:
https://psetrends.blogspot.com/2017/06/rwm-harmonic-pattern-update.html

Trading Plan
- Take some profit and profit run the rest of the position using trailing-stop.

RWM harmonic pattern update

Travellers International Hotel Group, Inc.

RWM has potentially completed the Bullish Butterfly harmonic pattern with PRZ around 2.95 (2.88~2.99 range).

See previous analysis of this harmonic pattern for more reference:
https://psetrends.blogspot.com/2017/06/rwm-potential-harmonic-pattern.html

Trading Plan
- Test buy or wait for reversal pattern confirmation around the PRZ area.
- Set stop-loss a few points from recent swing-low.

RWM potential harmonic pattern

Travellers International Hotel Group, Inc.

RWM is potentially forming a Bullish Butterfly harmonic pattern with PRZ around 2.95 (2.88~2.99 range).

*Gap at 3.30~3.36 - a potential resistance area (may also be potentially filled in the future).

Trading Plan
- Avoid for now.
- Only trade this setup once the harmonic pattern has been completed (ideally with a reversal pattern around the PRZ).