After a very sharp down movement due to FOMC news last week we did expect price to retrace and give us a good shorting opportunity. Based on the rule of alternation described by EW we do expect price to retrace 61.8% of the third wave down. This is where the entry is at. If it does not retrace to that price I will share with you a DNA system setup on the way down.
Trade closed: target reached
Frustrating trade but worked out at the end.
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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.