Mini Elliott Wave pattern and looks like the top of wave A has been reached. Trading with the trend and SELL wave B down. There is no way of knowing how low wave B will get so will keep an eye on each day and hopefully will have the opportunity to move a manual trailing stop. MACD indicator extremely bearish. Momentum indicator bearish and just touching the 14MA. Good gap between the 15SMA and 5EMA so everything looks positive for a SELL trade from here.
Trade active:
Move stop to break even/small profit. With the extent and speed of wave A being quite strong, the length of wave B will be difficult to predict. The momentum indicator is already showing signs of bullish strength today. There is of course nothing wrong with taking profits as and when you wish but if you can let your winners run for as long as possible, this will more than cover any small losses you make along the way.
Trade closed: stop reached:
Stopped out due to volatility. No loss which is very important. Now looking for the next opportunity.