Following on from the monthly chart sell zone identified, it seems like we now have a bearish setup showing up.
It's still quite early to anticipate the retracement path but here is a very likely one.
It suggests that we could have a nice bearish wave on wave 3 but nothing quite like a -5% drop in a single day !
So don't expect these kind of things to happen unless smth really unexpected shows up.
Anyway as the plan will move on these are the things I'll have a look at :
Hope this idea will inspire some of you ! I'ld appreciate any like/follow if you feel like it deserve it ;)
You can check my indicators via my TradingView's Profile : @PRO_Indicators
It's still quite early to anticipate the retracement path but here is a very likely one.
It suggests that we could have a nice bearish wave on wave 3 but nothing quite like a -5% drop in a single day !
So don't expect these kind of things to happen unless smth really unexpected shows up.
Anyway as the plan will move on these are the things I'll have a look at :
- Finding the (2) entry point pbly between 61-76% retracement to short with leveraged positions with a stop above the top.
- Once validated : plotting the trend channel from (0) (2) reported to (1).
- Moving stops to BE when breaking down (1).
- Lowering the stop when reaching the trend channel's bottom
- Taking partial profits on a momentum/sinewave signal when reaching target zone between 127-161% extension of (1)
- Selling again near 38-50% retracement of (3) with a Sinewave/Momentum signal.
- Taking full profits on (5) point and let prices retrace back in two corrective waves.
Hope this idea will inspire some of you ! I'ld appreciate any like/follow if you feel like it deserve it ;)
You can check my indicators via my TradingView's Profile : @PRO_Indicators
To learn more about the PRO Strategy and request a trial for the indicators:
Website : pro-indicators.com
Discord : discord.gg/Agdf5rt
Website : pro-indicators.com
Discord : discord.gg/Agdf5rt
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.
To learn more about the PRO Strategy and request a trial for the indicators:
Website : pro-indicators.com
Discord : discord.gg/Agdf5rt
Website : pro-indicators.com
Discord : discord.gg/Agdf5rt
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.