alfitec
Short

Elliot wave of cotton

ICEUSA:CT2!   Cotton #2
21 1 1
1. I am beginner and probably wrong.... feel free to criticize and comment, in fact comments
are more than welcome
4th wave unfolds... there is triangle formation in B wave of correction.... waiting for C wave
so short and then long
Low risk to gain ratio but if entry can be higher and risk can be reduced...
this way i would go with sell stop...
Comment: Levels have been changed... Wave 1 has started... easily observable on smaler timeframe which I dont have in tradingview... so until I pay for pro....
current sel stop is on bottom of daily candle... (or on bottom of wave 1)
stop loss is on top...
I always give them few pips additionaly so stop sell wont be triggered at exact level
it will be triggered something lower...
stop is moved also giving it better P/L
Also I will be following correction to see beter entry position... expected to enter on monday... but it should trigger next week....

snapshot
Comment: Stop reached ...
but it bounced from previous top quite wildly....
waiting for better trade location .... still short but new stop and entry...
i dont have pro so I can not publish M5 chart in trading view but now it is in third wave of C vave of corection of a First wave down of a C vawe...
So C wave started wave 1 went into wave 2 wave 2 is in C wave and C wave is in forth wave on that chart... after fifth wave shatp turn is expected...
P.S. My candles are wrong color... they are in collor of oscilator not candle... I have to change that in oscilator...
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