I would just like to see how this one plays out. This resembkes a simulated (paper) trade that I made on oil futures based on EW count and RSI bearish divergence mostly. Comments welcome.
Trade active:
Going well
Comment:
We are maybe around 50% through wave 3 down today. I am not following this too closely and decided to add to my position (a little late) but will keep my stop-loss above the wave 2 extreme (just above the 0.236 fib shown above) until wave 4 has formed as I will be attempting to close near the wave 5 extreme - intead of targeting each sub-wave separately (as I don't expect a deep wave 4 retrace).
Comment:
Looking at the 4hr timeframe I became convinced that we were actually in wave 5 (not 3) last night before this current bounce. Closed both short trades and am now long for wave A of the ABC correction (with a tight stop loss).