audcad scalp - 09.09.22
entry triggers:
wave a-e complete, breakout, retest, motive wave
bias: long
take profit: as indicated
entry: mkt price
sl: --
Good for scalpers.
No sl is given as I actively monitor my trades, unless the bias is broken. A correction with waves a-e is done. Instinctively the next move will be to find out where the motive 1-5 will terminate. Given that wave 1-4 have played out, wave 5 can be calculated by pulling the fib from the end of wave 3 to the end of wave 4. Now look for 1.414 and 1.618, that's the areas where 5 will likely terminate before a correction.
Note that, this is but a subwave of a bigger structure at its infancy, and the bias is up.
trade safe. Due diligence is advised!
wave a-e complete, breakout, retest, motive wave
bias: long
take profit: as indicated
entry: mkt price
sl: --
Good for scalpers.
No sl is given as I actively monitor my trades, unless the bias is broken. A correction with waves a-e is done. Instinctively the next move will be to find out where the motive 1-5 will terminate. Given that wave 1-4 have played out, wave 5 can be calculated by pulling the fib from the end of wave 3 to the end of wave 4. Now look for 1.414 and 1.618, that's the areas where 5 will likely terminate before a correction.
Note that, this is but a subwave of a bigger structure at its infancy, and the bias is up.
trade safe. Due diligence is advised!
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