XO | Corrective ZZ - Downtrend Target Wave Projection SMA200WPrice action and chart pattern trading
> update wave analysis target for downtrend at SMA200W - extension 0.786 - 1.0 of wave A
> Long Entry- patiently await for upcoming downtrend line breakout wave ii and iv for reversal confirmation
Always trade with affordable risk and respect your stoploss
XO
XO | Trend Breakout | Marubozu White Candlestick | Target Est.XO | Thailand SET Index | Food Sector | Target for uptrend Elliot Wave & Fibonacci Extension estimated
ENTRY Position
Price Action Trading: Trend Breakout with Marubozu White candlestick
Chart Pattern: Descending Triangle breakout
Indicator:
> MFI Money flow in
> RSI bullish signal
> MACD golden cross above zero line
Risk ratio 1:3 minimum
Stoploss 3-5% below entry
Always respect your stop-loss
Good Luck
GBPUSD: XO triple bottom into catapult short set-upTrying my first XO trade.
This looks like a triple bottom sell with a pole which may be followed by a catapult double bottom sell. Looking good!
I won't be getting into the details much as I am beginning with this type of analysis myself. Looks like a good short after "O" paints below the blue line and creates a new sell entry with a stop-loss above the last "X" column.