Hello,
I'm going to start sharing my trading journey from now on. I primarily trade using Elliott Wave counting. As I continue to document my trading opportunities, I'll track both my winning and losing trades. I hope you find it interesting!
Currently, my expectation is that if the price moves up from here and forms an ABC correction pattern with possible rising wedge, there will likely be a short trading opportunity around $87,000, marked as a red A.
I anticipate that a rising wedge pattern could form, hitting the trendline and then dropping, or it might break slightly above the upper trendline, creating a bull trap before falling.
In that case, the target for profit would be around $82,500, based on the Fibonacci 0.617 retracement level, assuming the previous low holds.
Of course, the price hasn't moved upward yet, so there's also the possibility that it could drop from here instead. If that happens, I won’t take a position and will wait for the next opportunity.
I'll review my trade and record the wins and losses next time.
see ya next time.
I'm going to start sharing my trading journey from now on. I primarily trade using Elliott Wave counting. As I continue to document my trading opportunities, I'll track both my winning and losing trades. I hope you find it interesting!
Currently, my expectation is that if the price moves up from here and forms an ABC correction pattern with possible rising wedge, there will likely be a short trading opportunity around $87,000, marked as a red A.
I anticipate that a rising wedge pattern could form, hitting the trendline and then dropping, or it might break slightly above the upper trendline, creating a bull trap before falling.
In that case, the target for profit would be around $82,500, based on the Fibonacci 0.617 retracement level, assuming the previous low holds.
Of course, the price hasn't moved upward yet, so there's also the possibility that it could drop from here instead. If that happens, I won’t take a position and will wait for the next opportunity.
I'll review my trade and record the wins and losses next time.
see ya next time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.