Hi there,
You may not know the exact direction that the price will take or how it will reach your target. It could temporarily move downward before moving up and eventually hitting your stop-loss level. Alternatively, it might smoothly move in the desired direction, or it could unexpectedly reverse without gaining the anticipated momentum, potentially resulting in a flop. This is the case for retail traders, no matter what.
So the aim is to remove all guesswork and keep an objective view that what you see is what you see, but the outcome should be based on how you anticipate the market and not how you believe in the market. Anticipate the market, get an alert, confirm the alert, and react. Nothing is chaoticly random in a price chart.
We have what appears to be an EW ABC correction, where A' will be (e) for a lower high anywhere within the 1984 range which will be ''B''. But to reach the 1754 price target, there needs to be a strong bearish signal that can have enough momentum to break 1919, and that signal is the anticipation, and to that anticipation there needs to be an alert, and to that alert a strong confirmation.
If the setup does not work out, note it down, assess the Low that reversed your direction and read fundamentals around its date, improve the technical analytical fault! Repeat.
Happy Trading,
K.
You may not know the exact direction that the price will take or how it will reach your target. It could temporarily move downward before moving up and eventually hitting your stop-loss level. Alternatively, it might smoothly move in the desired direction, or it could unexpectedly reverse without gaining the anticipated momentum, potentially resulting in a flop. This is the case for retail traders, no matter what.
So the aim is to remove all guesswork and keep an objective view that what you see is what you see, but the outcome should be based on how you anticipate the market and not how you believe in the market. Anticipate the market, get an alert, confirm the alert, and react. Nothing is chaoticly random in a price chart.
We have what appears to be an EW ABC correction, where A' will be (e) for a lower high anywhere within the 1984 range which will be ''B''. But to reach the 1754 price target, there needs to be a strong bearish signal that can have enough momentum to break 1919, and that signal is the anticipation, and to that anticipation there needs to be an alert, and to that alert a strong confirmation.
If the setup does not work out, note it down, assess the Low that reversed your direction and read fundamentals around its date, improve the technical analytical fault! Repeat.
Happy Trading,
K.
Trade closed manually