PSL | Detailed Elliott Wave Projection - Bullish Scenario
Price action and chart pattern trading
> A more detailed project of Elliott Wave presents an alternative bullish scenario.
> An Impulse ZZ family has possibly presented a wave 2 intermediate position going up making wave 3 on the way.
> 1st target at wave 1 position, 2nd target at wave 3 at 1.213 - 1.618 zone and final target at wave 5 at 1.618 - 2.618 extension zone
> Stoploss at the lowest position of wave 2 with downside risk at 10 - 15%.
> RR at 2:1 for short term and 3:1 for medium term trade.
> The extended target of Primary Wave 5 is projected with 1.618 - 2.618 retracement of primary wave 4 at 33.5 - 40.5 for your run trend lot.
Always trade with affordable risk and respect your stoploss.
> A more detailed project of Elliott Wave presents an alternative bullish scenario.
> An Impulse ZZ family has possibly presented a wave 2 intermediate position going up making wave 3 on the way.
> 1st target at wave 1 position, 2nd target at wave 3 at 1.213 - 1.618 zone and final target at wave 5 at 1.618 - 2.618 extension zone
> Stoploss at the lowest position of wave 2 with downside risk at 10 - 15%.
> RR at 2:1 for short term and 3:1 for medium term trade.
> The extended target of Primary Wave 5 is projected with 1.618 - 2.618 retracement of primary wave 4 at 33.5 - 40.5 for your run trend lot.
Always trade with affordable risk and respect your stoploss.
Comment:
Note: The current wave could be an ascending diagonal intermediate wave.