In our last post we identified that we're in the final 5th wave. This wave has 5 subwaves.
We've seen wave 1 and now we're in wave 2, which is a correction. Expecting wave 3 lower.
Trade Idea:
- Watch for wave 3 to break the red trendline for confirmation
- For a risk entry, watch for a rejection of lower timeframe fib levels or lower timeframe trendline break or BOS
- stoploss should be above the correction once the red trendline breaks
- Targets: 890, 800, actively manage the rest
Once we're in the 5th wave, we can look for possible reversal zones and ways to confirm that the reversal is happening. Make sure to keep a look out for the updates!
Goodluck and as always, trade safe!
We've seen wave 1 and now we're in wave 2, which is a correction. Expecting wave 3 lower.
Trade Idea:
- Watch for wave 3 to break the red trendline for confirmation
- For a risk entry, watch for a rejection of lower timeframe fib levels or lower timeframe trendline break or BOS
- stoploss should be above the correction once the red trendline breaks
- Targets: 890, 800, actively manage the rest
Once we're in the 5th wave, we can look for possible reversal zones and ways to confirm that the reversal is happening. Make sure to keep a look out for the updates!
Goodluck and as always, trade safe!
Note
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Related publications
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.
Want more chart ups like this? Click the links below:
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Related publications
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.