Hello everyone,
Another perfect ABCD formation has completed and I'm putting my order as soon as the market opens.
The latest top, with a huge wick on, before the market closed sat on the 1.618 extension of the A leg which also was exactly on the 61.8 retracement of the down move from late October.
As you can see from RSI, there is a big divergence between the higher highs in order to confirm the setup.
I have two orders:
A short term which has a tight stop right above the latest top
and
A long term which its stop sits on the latest Major High @ 0.89150
Choose your Profit Targets and Stop Losses yourselves, by calculating your risks and expected rewards.
Until next time,
Take care and have a profitable week ahead of you.
Davood Wadi.
Another perfect ABCD formation has completed and I'm putting my order as soon as the market opens.
The latest top, with a huge wick on, before the market closed sat on the 1.618 extension of the A leg which also was exactly on the 61.8 retracement of the down move from late October.
As you can see from RSI, there is a big divergence between the higher highs in order to confirm the setup.
I have two orders:
A short term which has a tight stop right above the latest top
and
A long term which its stop sits on the latest Major High @ 0.89150
Choose your Profit Targets and Stop Losses yourselves, by calculating your risks and expected rewards.
Until next time,
Take care and have a profitable week ahead of you.
Davood Wadi.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.