Hi,
I am learning Elliot-Wave. I have a Trading Idea I want to share with you.
Basically I see two possible scenarios. We are in a bearish Impulsive-Wave as you can see in the read counts or we are in a bullish correction if you look at the green counts.
Any way I think at the 61,8% Retracement (10725)of the c or iii wave is a nice entry for a short with a Stop-Loss at 11.625 right below the a or i wave. The Stop-Sell would be at the 61,8% Retracement of the i or iv wave at 9200. The C/R is 2:1.
No matter which scenario is correct. Here is a possible trade that works in both versions.
What do you think?
I am learning Elliot-Wave. I have a Trading Idea I want to share with you.
Basically I see two possible scenarios. We are in a bearish Impulsive-Wave as you can see in the read counts or we are in a bullish correction if you look at the green counts.
Any way I think at the 61,8% Retracement (10725)of the c or iii wave is a nice entry for a short with a Stop-Loss at 11.625 right below the a or i wave. The Stop-Sell would be at the 61,8% Retracement of the i or iv wave at 9200. The C/R is 2:1.
No matter which scenario is correct. Here is a possible trade that works in both versions.
What do you think?
Comment:
BTW I prefer the long scenario because the i/iv wave has 5 legs, which in my eyes is not typicall for a correction-wave as iv is.
Order cancelled:
We might have already seen (v) at 10.000. There is high resistance between 10.000 and 10.275, because of the gap of 12th March and the low of 2018. I don't think there is enough momentum to pass above 10.275 in the coming days.