Price action and chart pattern trading > update wave analysis target for downtrend at SMA200W - extension 0.786 - 1.0 of wave A > Long Entry- patiently await for upcoming downtrend line breakout wave ii and iv for reversal confirmation Always trade with affordable risk and respect your stoploss
XO | Thailand SET Index | Food Sector | Target for uptrend Elliot Wave & Fibonacci Extension estimated ENTRY Position Price Action Trading: Trend Breakout with Marubozu White candlestick Chart Pattern: Descending Triangle breakout Indicator: > MFI Money flow in > RSI bullish signal > MACD golden cross above zero line Risk ratio 1:3 minimum Stoploss 3-5%...
Trying my first XO trade. This looks like a triple bottom sell with a pole which may be followed by a catapult double bottom sell. Looking good! I won't be getting into the details much as I am beginning with this type of analysis myself. Looks like a good short after "O" paints below the blue line and creates a new sell entry with a stop-loss above the last "X" column.