Yesterday we nicely executed long trade in SPX500. Seeing the bigger picture though promises very tough road ahead. WXY corrections are so tricky, almost non-tradable. In the chart, I indicated 2 possible scenarios and I am sure there are many more possibilities. You can see that if pink scenario materialises, SL will be knocked out.
This leaves no choice but to trade short-term. My newly developed rules allow trading C wave only in those wxy corrections. So we'll be watching the developments very closely, identifying waves C before they start and taking profits when they finish.
You can follow live trading updates in the Telegram channel. t.me/wavetrades
This leaves no choice but to trade short-term. My newly developed rules allow trading C wave only in those wxy corrections. So we'll be watching the developments very closely, identifying waves C before they start and taking profits when they finish.
You can follow live trading updates in the Telegram channel. t.me/wavetrades
Note
I guess we are in pink scenario. Will analyse in a separate post.Trade closed manually
Having considered pink I moved the SL to 0 and they were triggered Friday night
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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.
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.