4HR Chart Showing Overview Of The Possible Triangle And My Projections
As many of you following my posts know, I think ahead a few steps before the market and do studies as to what the future price action may look like. This is something I do in order to prepare for the future price movements if they go accordingly. Here is another example of this. Here you can see the that would complete the wave (b) of the larger wave (B). Remember that wave b's are corrective in nature so have tendencies toward complex patterns like triangles. Once the wave (b) and the triangle were to be completed, then of course, wave (c) would commence. In my study, wave (c) would reach towards the bottom TL of a larger triangle seen better on the DAILY TF. This price action would also form a pattern that would also complete near that lower TL.
MY TRADE PLAN
Upon the bat completion as in the main chart above, I will be looking to go LONG for the completion of the triangle and Leg E. When the Leg E has completed, I'll be looking to go SHORT for the wave (c)
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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