We have possible wolfe wave oattern in development on houly time frame.
Watch price action when yellow area reached to enter sell for target at orange line.
Good luck !
Trade closed: target reached
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Comments
ernstschwarz
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nice trade, dude!
nguyenvantuhd
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Bro, please explain, why target is based on orange line but not support level at bottom? (actually they are at 1 point )
What is the role of orange line?
ernstschwarz
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@nguyenvantuhd, obviously he closed at the bottom you mentioned. but in my understanding there is no such thing tradeable as support or resistance.
wolfe wa´ves strategy sees the meeting of price an the orange line (extention of a ray starting from point 1 and going through point 4) as the take profit level. i would always suggest to take half profit at a horizontal line (price level) of point 4 and put rest half to breakeven and then head for the "orange line"- thing.,
amine_twit
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i'm selling at 1.0609, my entry point was perfect but i didn't see this pattern, good job man!!