Good evening traders,
My attempt at the NAS100 utilising price action and Wolfe wave principles. The NAS100 Chart reflect that a wave 4 is completed for the Wolfe Wave pattern and the next wave will end at 7441 which is wave 5 and finally wave 6 target is set at 7244.00 . Even thought the wave 4 is defined by me as completed there are a possibility for the point to go lower to be completed.
The following is my short term targets for NAS100.
Target Direction Price
1 Long 7352.00
2 Long 7441.00
3 Short 7352.00
4 Short 7244.00
Please bear in mind that the above is not advise and merely my perception of the market.
My attempt at the NAS100 utilising price action and Wolfe wave principles. The NAS100 Chart reflect that a wave 4 is completed for the Wolfe Wave pattern and the next wave will end at 7441 which is wave 5 and finally wave 6 target is set at 7244.00 . Even thought the wave 4 is defined by me as completed there are a possibility for the point to go lower to be completed.
The following is my short term targets for NAS100.
Target Direction Price
1 Long 7352.00
2 Long 7441.00
3 Short 7352.00
4 Short 7244.00
Please bear in mind that the above is not advise and merely my perception of the market.
Comment:
Target 1 was almost reached and we could have closed. Based on the market movement, i will still hold for target one.
Comment:
Target 1 reached.
The Wolfe Wave pattern did not pan out as per the original setup illustrated in the graph. The targets however is still valid. when the new candle opens above 7352.00 i will take a long and target 7441.00 .
The Wolfe Wave pattern did not pan out as per the original setup illustrated in the graph. The targets however is still valid. when the new candle opens above 7352.00 i will take a long and target 7441.00 .
Trade closed manually:
The 1st Target was achieved, but the trade entry point for target 2 was not present so no additional trades for the above setup was entered.