Idea for Dax30 Short
Updated
Hi,
I am learning Elliot-Wave. I have a Trading Idea I want to share with you.
Basically I see two possible scenarios. We are in a bearish Impulsive-Wave as you can see in the read counts or we are in a bullish correction if you look at the green counts.
Any way I think at the 61,8% Retracement (10725)of the c or iii wave is a nice entry for a short with a Stop-Loss at 11.625 right below the a or i wave. The Stop-Sell would be at the 61,8% Retracement of the i or iv wave at 9200. The C/R is 2:1.
No matter which scenario is correct. Here is a possible trade that works in both versions.
What do you think?
I am learning Elliot-Wave. I have a Trading Idea I want to share with you.
Basically I see two possible scenarios. We are in a bearish Impulsive-Wave as you can see in the read counts or we are in a bullish correction if you look at the green counts.
Any way I think at the 61,8% Retracement (10725)of the c or iii wave is a nice entry for a short with a Stop-Loss at 11.625 right below the a or i wave. The Stop-Sell would be at the 61,8% Retracement of the i or iv wave at 9200. The C/R is 2:1.
No matter which scenario is correct. Here is a possible trade that works in both versions.
What do you think?
Note
BTW I prefer the long scenario because the i/iv wave has 5 legs, which in my eyes is not typicall for a correction-wave as iv is.Order cancelled
We might have already seen (v) at 10.000. There is high resistance between 10.000 and 10.275, because of the gap of 12th March and the low of 2018. I don't think there is enough momentum to pass above 10.275 in the coming days.
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