Blue wave (3) was almost 1.618* the length of wave 1, so we could get a wave (5) down next after a bounce for blue wave (4).
Because wave (3) was extended, wave (5) is usually the same length as wave (1) or should be at least 0.618 the length of wave (1).
As I am expecting a bounce for wave (4) I have set my box of sell orders to trigger my position.
Having a stop loss is ALWAYS essential as if the price continues upwards, I do not want to be in a short position.
The profit target is where I predict wave (5) to be between 0.618 and 1 x the length of wave (1) taken from the end of where I think wave (4) will end.
Best of luck and any questions shoot them over... LETS GOOO
➖➖➖
Action: Set limit sells between $9071.4 and $8872.1
Stop Loss: $9486.4
Take Profit: Set limit buy orders between $8491.8 and $8169.3
Order valid: 8 hours from publication
➖➖➖
Not Financial Advice
Because wave (3) was extended, wave (5) is usually the same length as wave (1) or should be at least 0.618 the length of wave (1).
As I am expecting a bounce for wave (4) I have set my box of sell orders to trigger my position.
Having a stop loss is ALWAYS essential as if the price continues upwards, I do not want to be in a short position.
The profit target is where I predict wave (5) to be between 0.618 and 1 x the length of wave (1) taken from the end of where I think wave (4) will end.
Best of luck and any questions shoot them over... LETS GOOO
➖➖➖
Action: Set limit sells between $9071.4 and $8872.1
Stop Loss: $9486.4
Take Profit: Set limit buy orders between $8491.8 and $8169.3
Order valid: 8 hours from publication
➖➖➖
Not Financial Advice