1. I am beginner and probably wrong.... feel free to criticize and comment, in fact comments
are more than welcome
4th wave unfolds... there is triangle formation in B wave of correction.... waiting for C wave
so short and then long
Low risk to gain ratio but if entry can be higher and risk can be reduced...
this way i would go with sell stop...
are more than welcome
4th wave unfolds... there is triangle formation in B wave of correction.... waiting for C wave
so short and then long
Low risk to gain ratio but if entry can be higher and risk can be reduced...
this way i would go with sell stop...
Comment:
Stop reached ...
but it bounced from previous top quite wildly....
waiting for better trade location .... still short but new stop and entry...
i dont have pro so I can not publish M5 chart in trading view but now it is in third wave of C vave of corection of a First wave down of a C vawe...
So C wave started wave 1 went into wave 2 wave 2 is in C wave and C wave is in forth wave on that chart... after fifth wave shatp turn is expected...
but it bounced from previous top quite wildly....
waiting for better trade location .... still short but new stop and entry...
i dont have pro so I can not publish M5 chart in trading view but now it is in third wave of C vave of corection of a First wave down of a C vawe...
So C wave started wave 1 went into wave 2 wave 2 is in C wave and C wave is in forth wave on that chart... after fifth wave shatp turn is expected...
current sel stop is on bottom of daily candle... (or on bottom of wave 1)
stop loss is on top...
I always give them few pips additionaly so stop sell wont be triggered at exact level
it will be triggered something lower...
stop is moved also giving it better P/L
Also I will be following correction to see beter entry position... expected to enter on monday... but it should trigger next week....