Trading idea for Bank of America Corp. (NYSE)

#BAC

The general trend is downward. The currency pair is trading in the 365 and 135 EMA range. The ascending wave structure is truncated. There is a bearish divergence on the Awesome Oscillator indicator.

Trading idea:

Sell on the formation of a downtrending wave structure where wave (A) breaks the inclined channel of the ascending truncated structure.

Stop-loss for the local maximum of the ascending structure (34.00).

Target levels: 31.30; 29.71.