MATIC gave us a complex wave 4 and now we're at the extremes of wave 4. We have an invalidation level in place and we're almost at that level.
Taking a short entry anywhere near the blue structure will give us a great risk to reward. There's only limited space for it to move up but there's 75% raw gain to be made on the short. We're expecting wave 5 to go below wave 3 so once we pass that, we'll be looking for reversal patterns to get in on the longs.
Trade Idea: - On lower timeframe, watch for rejection of the blue structure. This can be done via trendline breaks or BOS etc. - Enter with stops above the blue structure - Target the recent lows as first targets. Taper off position as we move lower
Professional technical analysis you´ve made, nice!
TradingwithDKI
⋅
thanks 😊
Solldy
⋅
Pretty detailed review of the pair, but still, I'm curious to know. Do you take into account fund sales before analyzing? Do you somehow study their effect on the market?