On the daily chart of BA shares, there was a change of trend into a bearish one according to Bill Williams` trading strategy with a recently formed sell fractal. In addition, with high probability, the price is at the beginning of the C wave of a bullish Elliott wave cycle.
If you can recommend anyone you follow who trades "pure" Williams fractal/chaos approach, I'd love to know... My Wise men chops are good, but Elliott needs work. Cheers
Hi. As far I interpret things, your entry short would have been the break of the strong, bearish divergent candle reversal signal at the very peak of the B wave. You may well have taken that, I don't know. I hope so. The risk was very lowlow; angulation from the jaw line was pronounced. That would have viven an entry at approx 358.70, adding on at the fourth AO red bar for more profit south (more or less the same level entry aas the fractal break you did trade. I would then have yused THAT fractal high as a new stop for both positions, bringing at least one nicely into profit. Then price goes whack on the 15th, maybe on news? It exactly touches the significant double bottom from 25th and 28th July. That woulda made me scared, so new stop for both positions would have been moved to just above the tiny swing high on the 13th @ about 342.80, where I'd soon have been stopped out at, with money in the bank.
Easy in hindsight, of course, but that's my 2¢
AlexStanilevych
⋅
@OlepticUnion, That trade was long in the past, I consider shorting CSCO shares if a new bearish impulse comes with a target in local wave 3.
Ronnie_Dong
⋅
I agree with you very much.
Great minds think alike.
Follow Me,please.
I hope we can have more communication in the future.