Position: long ''counter trend''
Stop Loss: 95.30
Position open: 16/08-2019
Reason for entry: ABC pull back on lower time frame (Trading the bullish C-Wave) as price action and overall trend on higher time frame is bearish... Let's see how the trade rolles out...
If price drops from 38% Fibonacci, we'll probably see a 5 wave structure giving us a new lower low...
If 50% or 618% Fibonacci is the target, we'll see a 3 wave structure and you'll see a different structure develop...
We'll see how it all plays out, I'll keep you updated.
- Could se Zig-Zag pattern form or a Straight move to test previous top, but any how, I leave you with a picture of how to look at The Wave principle.
Plan your trade, trade your plan and trade Safe...