AuthenticTrader
Long

FBR - Long Again - Multiple Harmonics at Restiance with Elliot

NYSE:FBR   None
Perhaps a little too aggressive not waiting for the candle. But It opened higher, XABCD pattern completed on 1h, and an AB=CD completed on the 1h.

Classic Elliot wave count meeting all the rules and several of the most relaible guidlines.

I lo=ve the support offered by the rising window as it converges with the start and completion of the pattern, and Elliot wave 4 of previous impulse.

Will I pay for my aggression? We will see, If so, a nice tight stop loss will be my solace.

Trade closed: target reached: Not quite...but it is having a tough time past 5.80, and this is at key fib level, Near the the top for this wave 5 of short term Elliot impulse.

Correction / pullback now. Wait for Connors 2 period RSI to bottom.
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