We have a big ABC countertrend move:
For the Wolfe Wave setup the shorts could be taken now, but the problem is that the stop placement is gonna be too subjective.
For the longer term ABC pattern trading I would have a more probable and solid stop placement as you can see from the chart.
- A leg is a simple impulse
- B leg is a beautiful abc move
- C leg is an ending diagonal (Or Wolfe Wave if you prefer)
For the Wolfe Wave setup the shorts could be taken now, but the problem is that the stop placement is gonna be too subjective.
For the longer term ABC pattern trading I would have a more probable and solid stop placement as you can see from the chart.
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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.