EA H1 looking very much like expanding flat for at least a C wave up.
1) There's no confirmation internal C wave down is over, Wait for confirmation
2) Wait for a solid candle TL break and bull flag on lower TF to confirm more upside to come before taking the buy
3) Price breaking the low of wave A invalidates the trade
4) targeting the 100fib, This level will change if internal C wave continues lower
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1) There's no confirmation internal C wave down is over, Wait for confirmation
2) Wait for a solid candle TL break and bull flag on lower TF to confirm more upside to come before taking the buy
3) Price breaking the low of wave A invalidates the trade
4) targeting the 100fib, This level will change if internal C wave continues lower
If you would like to see more trade setups like this, hit the follow button. If you like my analysis, hit the thumbs up so others get the chance to see this potential setup and you get updates on the trade!
Note
Ok so we have learnt that it's only going to be a C wave up in a correction due to such a deep pullback so we can look for shorts once the impulse up is over!M15 were getting start of impulse up, wait for confirmation, break of a flag before buying to confirm more upside.
This has turned into more of a scalp up so more for the experienced traders, Invalidation point still stands, If price falls below without give flag no go.
Note
Like I said in my last update, upside is now limited due the the deep pullback, looks like we maybe forming a running flat which is another sign were only going to get a C up before the larger impulse to the downside.If your system got you into a long position look for any bearish sign above the yellow line and TP,
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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.