My entry point was(8,294)
I set me stop loss at just under the golden zone (.618 to .65) of the last move up.($8,248)
Set my target at a 1:1 ratio using Fib Extension tool.($8,557)
Will move my stop loss to break even point once I see the trade is well on its way.Probably when were nearing $8,400
In the mean time I will monitor closely.
Cheers
I set me stop loss at just under the golden zone (.618 to .65) of the last move up.($8,248)
Set my target at a 1:1 ratio using Fib Extension tool.($8,557)
Will move my stop loss to break even point once I see the trade is well on its way.Probably when were nearing $8,400
In the mean time I will monitor closely.
Cheers
Trade closed: stop reached:
Got stopped out of my trade for a .5% loss.Was thinking maybe I should have set my stop loss at the .786 fib level. That would coincide with the top of my wave 1 in my sub count.If it crossed then it would invalidate my EW count. Either way $8500 resistance holding strong. :-(