I have noticed something that I think is ABC pattern which allows to effectively double the previous trade while keeping the same risk exposure.
ABC pattern is confirmed by divergence with indicators and by PA against support level on 1H chart.
Moving stops and doubling the position. Everything else is as per 2020/8 trade.
Risk reward has gone up to 5.8
ABC pattern is confirmed by divergence with indicators and by PA against support level on 1H chart.
Moving stops and doubling the position. Everything else is as per 2020/8 trade.
Risk reward has gone up to 5.8
Trade closed manually
The stock reversed sharply + the time allocated to this trade is gone. Oil looks to the downside. I am closing the trade and wishing I took 50% of the profits at 50% retracement.Trade active
reopened when the market gapped higher at the open.Trade closed: target reached
Note
Exited the trade manually when it was in the middle of the green zone. Right before the pullback. TP was not reached by a hair thick.
Note
now I am thinking whether to go short prompted by very compelling PA on 4H and D charts.
➡️t.me/charta_energeia — Telegram channel for regular Elliott Wave, level, and trend analysis on Oil, Gas, and Crypto.
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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.
➡️t.me/charta_energeia — Telegram channel for regular Elliott Wave, level, and trend analysis on Oil, Gas, and Crypto.
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.