Also, ES is making a 3rd wave, it may pull back a bit after bouncing off resistance @ 1842.75 area. This would create a good place to enter, with a target of 1905-9.
If the trendline is broken or price action moves sideways for 80+ bars the trade is invalid.
Comments
LEONES
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yes I agree, this is where the market wants to go. Maybe more than 78bars to reach that level
matt_forex
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Yes, it may take more. I just like as much symmetry as possible (or as close to symetrical) in 3 wave moves.
LEONES
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don't really like today close anyway, not strong enought
matt_forex
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this trade is really playing out well. (so far)
LEONES
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yes, pull back yesterday but it seems moving in that direction
matt_forex
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I'm thinking the geopolitical events in the Ukraine will provide the catalyst needed for the market to pull back a bit, and entice more buyers. (once the event is resolved)