After a clear 5 wave move to the down price is testing a key support zone. Typically after a 5 wave impulsive move we have a correction (Elliott wave) and that's what we are planning to trade. A very good reason to this is that in RSI we see a bullish divergence.
Stoploss and profit targets as shown at the chart. As always i will enter this long trade with three positions and if price reaches the first profit target i will move stoploss to breakeven to the second and third positions.
Like and comment,
John
Stoploss and profit targets as shown at the chart. As always i will enter this long trade with three positions and if price reaches the first profit target i will move stoploss to breakeven to the second and third positions.
Like and comment,
John
Trade closed: stop reached
