so currently m still in this GU trade, trading wave C of 4, for now, I'm looking to enter the second trade trading wave Y of Y orange as a double correction wave.
currently, I'm waiting for wave x to finish the retracement as a regular flat on the 4H and gives me a divergence between 3/5 of c nd with that said imma be looking for a loss of momentum on that 0.618 fibs and support level with long wick candles rejecting the level but I'll be also looking for a strong bullish engulfing candle to the upside signaling the bulls move and their power of moving price
after all the strong confirmation signals on the 4h imma be confident to scale down to 1h looking for a new structure and when the break of the (HH) happen that is my entry calling on the 15m charts after a strong engulfing candle and ema's crossover I'm in.
stops obviously bellow wave x (safe stop lose) or bellow the (LH) tight one.
target is 100% fib extension of wave W
psychology;
so after all the analysis, I am always thinking of probabilities if turns to be a lose I am more than welcome to accept it cus those the one that improves my trading and opens my eyes and wut always matter is I act on my plan, predefine my risk/reward and thinking of probabilities that anything can happen that's enough for me to be in peace with whatever the outcome may bring
good luck guys and have a wonderful week 💪🏽
currently, I'm waiting for wave x to finish the retracement as a regular flat on the 4H and gives me a divergence between 3/5 of c nd with that said imma be looking for a loss of momentum on that 0.618 fibs and support level with long wick candles rejecting the level but I'll be also looking for a strong bullish engulfing candle to the upside signaling the bulls move and their power of moving price
after all the strong confirmation signals on the 4h imma be confident to scale down to 1h looking for a new structure and when the break of the (HH) happen that is my entry calling on the 15m charts after a strong engulfing candle and ema's crossover I'm in.
stops obviously bellow wave x (safe stop lose) or bellow the (LH) tight one.
target is 100% fib extension of wave W
psychology;
so after all the analysis, I am always thinking of probabilities if turns to be a lose I am more than welcome to accept it cus those the one that improves my trading and opens my eyes and wut always matter is I act on my plan, predefine my risk/reward and thinking of probabilities that anything can happen that's enough for me to be in peace with whatever the outcome may bring
good luck guys and have a wonderful week 💪🏽
Trade closed: target reached