The market reversal that we anticipated long ago by this ending diagonal configuration that worked just perfectly and gave me a perfect short entry right on the top. Plus the following reinforcements given by PRO Sinewave & Momentum. This was nearly educational setup here for those who begin with the indicator's reading. Anyway the Elliot count now suggests that we still have a fifth and final subwave to complete before reaching point A of our retracement. Everything here tends to plead for an ABC classical zig zag correction.. but it's still too soon to tell. For now we're searching for wave 4 to end to sell again for the last subwave. This 4 wave seems to be a regular flat correction still at "b" point, so I'll sell on more time if I have a signal on this "c" point that should be our subwave 4 endpoint. The projected fibo extensions targets are made from this theorical price. Basically for a third wave extended the 5th wave is 61.8-78.6% of wave 3. This will have to be updated at the next bearish move of course. But it all tends to say that we're going to close the current price gap with this final wave before pulling back to search for "B" point !
Hope this idea will inspire some of you ! I'm pretty new to TradingView so I'ld appreciate any like/follow if you feel like it deserve it ;) You can check my indicators via my TradingView's Profile : @PRO_Indicators
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Trade active
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First agressiv entry :
Trade closed: stop reached
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Scenario reached invalidation this morning and I had to take a stoploss. Exited that trade at -50p (losses are part of a future win!)
@Divergente, je ramasse à 380 (127% extension fibo) puis à 357 (161%).. tout dépendra de la facon dont on baissera sous le support. Pour l'instant je suis BE avec trois ventes chacune sur les sommets donc au top. Je concerverait une ligne latente en plus pour rajouter au levier swing jusqu'a cloture du gap
edro20072011
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EXcellent analysis as usual.... keep up the good work!
There's also a large consensus looking forward to close the gap.. so I'm not going to play this agressively.. If I don't have any signal inside the zone I won't short.