I consider it a valid analysis; adding to it is the pending entrance area is near corrective A finish and start of B; I project based on Fib-time, next Tues or Wed, we may see a good entry opportunity. Target entry zone, 10800, SL 10745, PT 10950. Also agree to wait for the added confluence of divergence and or price-action as well; neither is present for the moment. In comparison, I'm more willing to go for the corrective B finish and start of C cos' it's more along the trend than counter trend.
gcplau
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@gcplau, second thought....target entry zone should be 10740~10800 subject to PA; divergence is a minimum requirement in this case. Set SL at 100pips below entry point and R/R 1.5. That would make more sense to myself.
lol
Andre_Cardoso
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@gcplau, i believe that my friend, but at the same time i have no motive at that price for entry, and i don't use 100 pips at stops :) to set my stops at 100 pips i need to decrease my initial volume of negotiation and the financial return is not acceptable. I will stay loyal to the advanced pattern formation ;). And btw, good to see you again, and thank you very much for your approach. All the best. André
gcplau
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@Trading_Jazz, thanks for your explanation and your kind word. I have not yet finished learning your published harmonics and I believe I will finish them soon or later. All the best to you too and thanks for your generous coach so far, you are one of my best friend here.