Heres a potential trade for Wan, green box will be a potential entry, if the volume is there too! Which is important, so you don't get bull trapped, and red box will be where i'd set my stop, a tight stop, because if we fall through the black trendline, the count changes!
However, at the moment I'm seeing it as an ending diagonal about to go up for a final wave 5. So ill be watching for an entry at the extreme of the B wave coming down (green box) and riding it up to the top taking profits on the way.
IMPORTANT: What confirms that we could still get higher, is because i only count waves 1,2,3, and potentially a completed wave 4.
We can see an we've had an exact 1:1 hit, for our big wave 3 up (pulling from our big waves 1 & 2).
So because our wave 3 is in, and potentially our wave 4 also, the highest probability target for wave 5 is always the 1.618! But because of our deep wave 4 cutting into wave 1 territory, our impulse up has become an ending diagonal. Which I'll be looking to play up to the top black trendline. But the most bullish outcome is if we do hit the 1.618, which is the usual target for our wave 5, when wave 3 is 100% of wave 1, which it have hit TO THE TICK.
IF WE DO ENTER THE RED BOX ALL BETS ARE OFF, BECASUE THAT WILL MEAN THE CORRECTION ISNT FINISHED FOR WAN. AND I WONT BE ENTERING UNTIL WE BREAK PAST THE GREEN BOX WITH CONVICTION.
If I'm feeling aggressive id scalp that nice 5% up to the green box (my entry for the big wave 5 up). By entering now with the green box as my target. Its the more aggressive play.
**NOT FINANCIAL ADVICE, JUST SHARING WHAT I SEE**
However, at the moment I'm seeing it as an ending diagonal about to go up for a final wave 5. So ill be watching for an entry at the extreme of the B wave coming down (green box) and riding it up to the top taking profits on the way.
IMPORTANT: What confirms that we could still get higher, is because i only count waves 1,2,3, and potentially a completed wave 4.
We can see an we've had an exact 1:1 hit, for our big wave 3 up (pulling from our big waves 1 & 2).
So because our wave 3 is in, and potentially our wave 4 also, the highest probability target for wave 5 is always the 1.618! But because of our deep wave 4 cutting into wave 1 territory, our impulse up has become an ending diagonal. Which I'll be looking to play up to the top black trendline. But the most bullish outcome is if we do hit the 1.618, which is the usual target for our wave 5, when wave 3 is 100% of wave 1, which it have hit TO THE TICK.
IF WE DO ENTER THE RED BOX ALL BETS ARE OFF, BECASUE THAT WILL MEAN THE CORRECTION ISNT FINISHED FOR WAN. AND I WONT BE ENTERING UNTIL WE BREAK PAST THE GREEN BOX WITH CONVICTION.
If I'm feeling aggressive id scalp that nice 5% up to the green box (my entry for the big wave 5 up). By entering now with the green box as my target. Its the more aggressive play.
**NOT FINANCIAL ADVICE, JUST SHARING WHAT I SEE**
Comment:
As you can see, we did not reach our green box entry point, and have falling down into the reach box on top of that, which means we are in a no trade zone. Risk management is key.
50% = Resistance
61.8% = My conservative entry, (if the volume is there) to rid the wave up to complete our wave 5 for big gains. Adding to my position when we break above the 61.8% .