TradewithLu

UK 100 Short term trade opportunity (Long)

Long
OANDA:UK100GBP   UK 100
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2
This ended with an ending 5th wave diagonal which means that I can put in a tight stop loss at the place where wave 5 of 5 becomes longer than wave 3 of 5. The reason why I can do this is that wave 3 cannot be the shortest, so at the price where wave 3 becomes the shortest, this is where I have put my stop loss.

The take profit is between the 0.236 and 0.382 retracements of all 5 waves.

Again I have taken this trade with real money and at the time of writing this I am already in profit.

Best of luck and happy to answer any questions.

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