The last low was 136.440 on the 16 Jan 2017, this reflect that the market could drop further. Based on the distance of the drop on the 31st and today , I would say that the drop is completed. I also amended my Top Diagonal line to take in consideration the last high and create a new downward wedge. i left the bottom diagonal line in place as all comes together within the rules of a Wolfe Wave setup. We will have to wait and see how it turns out. My trades will be mostly Long and Some Shorts when the market creates corrections :
1. Buy at market value now and take profit at 139.874
2. when a new candle open above 139.874, I will open a buy and target 140.845.
3. when new candle open above 140.845 new buy target for 141.134
4. at any of the above points the market will create a correction and must be ready for a short sell opportunity.
stay safe
1. Buy at market value now and take profit at 139.874
2. when a new candle open above 139.874, I will open a buy and target 140.845.
3. when new candle open above 140.845 new buy target for 141.134
4. at any of the above points the market will create a correction and must be ready for a short sell opportunity.
stay safe
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Good morning,
Stop Loss should have kick in your any method you use for mitigation of risk. New trading Idea to follow soon.
Stop Loss should have kick in your any method you use for mitigation of risk. New trading Idea to follow soon.