Let's start with the , we know are created when the market is trying to break through a ne" isnt the market going to reverse then, and the answer is , possibly, but we do have the set up for a if that happens , and there is still hope. also , its quiet common that the market will give a little retracement at the end of these , before rallying well above it.
Second is the price action trade you could take, obviously we see the market in the negative deviation area. Which leads us to think the market may come down into the negative regression line; but it appears that that would be a break to the downside out of the , which is possible if the market decides to complete the .
But lastly , the gives us the best support for an entry and our exits. the has finished under the regression line, which allows us to assume the market will continue in an uptrend upon reversal. So we use the to place our entry and exits.
Our entry is at point B
Our limit is at the of the BC leg
and our Stop is at point X
Hold on tight , this trade should go fast.
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