Not sure if there is anything to this...
- I put a retracement position in to be filled between .618 and .786 when it was at the top. Order has filled.
- Will keep a close on this one. $WTC is known to make some quick runs. Stop loss set at Wave 1 starting point.
- If it does bounce... I put two extension targets out there at 1 and 1.618
Comment:
Let's see... looks like a start to a bounce. MACD and RSI showing positive signs.
Comment:
Looks to be nearing top of the 1st wave within the inner 3rd wave. Both 1 and 1.618 extensions plotted. RSI line I have (in purple) is too early to finalize yet as I need wave 2 to complete.
Therefore, just estimated for now. Still early for a true confirmation but things are heading in the right direction. I tend to take my long positions towards bottom of Wave 2 so that I have insight from Wave 1 to work with.
Therefore, just estimated for now. Still early for a true confirmation but things are heading in the right direction. I tend to take my long positions towards bottom of Wave 2 so that I have insight from Wave 1 to work with.
Trade closed manually:
Been away from the computer for most of the day. My stop loss was activated and took me out of this position with very little loss. Can't win them all...