Following my previous post we note a sharp reversal at what might be a new WW pt 2 developing on Nov 26th, mid-morning in the USA.
How do I know?
The reversal point is a point 4 from another WW on the 1 hour time frame. How do I know?
Study how Wave 4 forms intently and you can predict Wave 4 very accurately.
Matter of fact, if you know where point 4 will develop, and you already have a point 5, its a quick profit, but, in this case its a countertrend move!
So I should exit my positions at point 4! Wait for the point 5 and re-enter.
What I did was exited one contract there within a few ticks. The reversal took about a minute. I was away from my computer
I would not reverse and take a countertrend as this is downtrend. It was a painful evening - I live in Africa - and I went to bed down $1,500
Woke up to find I was only down $700.
So today the trend resumes. On this chart is looks like a period of consolidation. Not so.
Go to Part 3.
How do I know?
The reversal point is a point 4 from another WW on the 1 hour time frame. How do I know?
Study how Wave 4 forms intently and you can predict Wave 4 very accurately.
Matter of fact, if you know where point 4 will develop, and you already have a point 5, its a quick profit, but, in this case its a countertrend move!
So I should exit my positions at point 4! Wait for the point 5 and re-enter.
What I did was exited one contract there within a few ticks. The reversal took about a minute. I was away from my computer
I would not reverse and take a countertrend as this is downtrend. It was a painful evening - I live in Africa - and I went to bed down $1,500
Woke up to find I was only down $700.
So today the trend resumes. On this chart is looks like a period of consolidation. Not so.
Go to Part 3.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.