I whiffed on that trade because I was in too early and got stopped out but I managed to pick it up a month later on another trade I posted to my members:
That trade ultimately earned me and my members a total of +644 bankable pips in ACTUAL trading. That trade came off of COMPLETED and I followed and pattern up to claim those pips. After that pattern got filled and completed, it marked another turn and I then, 14 days ago, I gave this trade to my members:
That SELL trade back down made me and my members +544 more pips! My only regret was that I closed that trade MUCH TOO early and only caught half the move down. But I will never complain about making pips! So in total, those 2 trades which, if you were paying attention and knew what clues to look for, yielded me and my members who followed me a total BANKABLE pips of over +1100 pips! Not CHART pips. BANKABLE pips!
The point I am making here is that the clues to the trades are all here on the chart. They are not "invisible". You just need to know what to look for. Ok, so now let's talk about what you should be looking at now.
The highs you see on this 4HR chart I have marked as a completed wave (C). Since in my wave count, that point marked a COMPLETED corrective phase. So if that is correct, then we have now entered into an IMPULSIVE phase. And the recent dramatic drop down from those highs marked the beginning of that IMPULSIVE phase as a wave (1) of an initial 5-waves down. Now that the wave (1) is seemingly over, then now a wave (2) correction of that wave (1) should be getting underway. The wave (2) should correct at a minimum .382 of that wave (1) but normally, wave 2's tend to correct higher than that. 50% of wave (1) would be a good target if not much more.
Patterns have played a very important role in giving the clues as to the trade opportunities presenting themselves. And they continue to give clues. Following the completion of wave (1), there is now a small (blue) POTENTIAL Bat that is pointing the way up for the wave (2). Now, this small bat DOES complete at the .382 retrace of wave (1) so the completion of this bat bears close watch as to whether that will indicate that wave (2) is done or not.
If you look closely, I have also marked a very light gray on the chart that is a "look-ahead" pattern. This is not anything at this moment other than an idea. But if prices proceed as I expect, this "idea" will come much more into focus. It just give another clue as to the what MAY happen in the near future so allows me to start my planning early.
WHAT TO EXPECT & LOOK FOR
Expect that prices will now head on up and fill that POTENTIAL Bat. Depending on HOW it gets there, that bat completion may mark the end of the wave (2) OR it may only mark the wave (a) of (2) and that there is more correction upwards to come. If you don't feel comfortable trading the correction (and who can blame you if you don't) then exercise patience and WAIT for the correction to end. Because the REAL PRIZE will be the wave (3) move down!
MY TRADE PLAN
I'm already in this trade on the LONG side catching this wave (2) up right from it's very bottom. It's on the chart if you want to know what the trade is. But as I mentioned, I am REALLY trying to just follow the trade and catch the wave (3) when it happens. When it does, I'll be ready and waiting to trade it along with my members!
Dec 10th - 15th Indexes Newsletter: http://bit.ly/2iP3uFB
Performance Summary & Public Trade Log: http://bit.ly/29AeqnC
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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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