Wait for pullback before buying !
Price is finishing a 5waves move up, so, now should make a 3waves move lower.
Each of the moves lower are composed as 5-3-5, as drawn in blue.
Alternate count suggests we are in a Expanded Flat, in wave ((b)) wich, ideally, should not go above 0.7356 (1.382 Retracement) and preparing for ((c)) lower.
Trade Setup for first count :
* Entry : Wait for pullback to 0.618 Retracement.
* Stop : last low.
* Target : to be determined (around 0.74 to 0.75)
Price is finishing a 5waves move up, so, now should make a 3waves move lower.
Each of the moves lower are composed as 5-3-5, as drawn in blue.
Alternate count suggests we are in a Expanded Flat, in wave ((b)) wich, ideally, should not go above 0.7356 (1.382 Retracement) and preparing for ((c)) lower.
Trade Setup for first count :
* Entry : Wait for pullback to 0.618 Retracement.
* Stop : last low.
* Target : to be determined (around 0.74 to 0.75)
Note
Alternate count not valid because the ((b)) is not a 3waves move.Note
Gap at market opening. Price has a tendency to fill it.Note
Gap was not filled, but we got a better entry at the 0.618 - 0.786 zone.65pips down already.
Keep an eye on the target zone.
Note
Shit ! Wrong post. Update :
+87pips already.
Move Stop to 0.7278.
Note
Price missed the Stop by 0.1pip !Trade closed manually
Taking profits at 0.7253 because I think the Stop will be touched anyway so better take some more pips right now.+53pips
Note
Now wait for pullback to end before starting to build up longs again.
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Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Thanks !
Questions? Chat or Comment on Ideas
Thanks !
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.