Anyway, back to business at hand. Having hit the TP1, prices are now close to retesting the BAMM B point line of the bat which is also a MAJOR SR Structure. Should it get past that point, then the TP2 could very well be targeted. Just keep in mind that this movement is only a retracement of the recent crash in a wave (iv) movement. I fully expect that when this retrace is done, wave (v) down will commence and take prices even lower. To see my wave count expectations, see my recent post:
MY TRADE PLAN
I have now closed 70% of my LONG positions and will let the other 30% ride to see if prices will hit the TP2. I will be closely monitoring the price action for signs of the trend continuing and will quickly close the LONG positions and see if there is a good opportunity to add to my SHORT positions.
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. 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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