Now that we have a slight pullback, I will take a short at wave-(iv). Here is an alternative, more conservative approach with entry at AB=CD and SL above invalidation level:
Since this is a fourth wave, however, I will be taking the aggressive entry as price does not typically zig-zag at this stage.
Happy Trading!
Trade active
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Trade closed: stop reached
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The first corrective wave is a 3-count! Now I will wait for a signal for impulse wave-c. Trading is all about probabilities and risk management. The stop on this trade was placed on the point at which the zig-zag prediction was invalidated. I will updated wave count with a new trade idea for the upcoming correction.