Good day traders,
We have a valid wave (i) and (ii) that retrace about .786, then we have another leading diagonal i and a ii that retraces .786 again. Quite a standard EW trade set up for the third wave. However we're currently trading below the 800H MA so caution is definitely needed. In this market, we’ll have to wait for solid confirmation prior to making a trade. Although I strongly believe in the direction of WTC, there is still room for correction so let’s wait until we are confirmed above both the 400H and 800H MA before we doing anything.
Entries above 400H MA or .0016
Stop: below .0015
Target: .002425
Risk / reward ratio: 1:7
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
We have a valid wave (i) and (ii) that retrace about .786, then we have another leading diagonal i and a ii that retraces .786 again. Quite a standard EW trade set up for the third wave. However we're currently trading below the 800H MA so caution is definitely needed. In this market, we’ll have to wait for solid confirmation prior to making a trade. Although I strongly believe in the direction of WTC, there is still room for correction so let’s wait until we are confirmed above both the 400H and 800H MA before we doing anything.
Entries above 400H MA or .0016
Stop: below .0015
Target: .002425
Risk / reward ratio: 1:7
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
Comment:
You can also trade this based on the daily Heikin Ashi candles, which I will likely do: wait for a close above the 10D EMA and set a buy stop beyond the wick of that candle. This might give you a lower entry than .0016. Your stops should be the same or sufficiently under the 200D MA so you don't get squeezed out of the trade
