setting up for atriple prong bottom
Updated
so after the last leg down when I was expecting retrace or better, I feel this has a good chance of bottoming. seems to be setting up for a classic 3 point bottom.
The trouble with longing these is it's nearly impossibile to tell where the 'B' will finish. looking at previous bottoms in short time frames it can be seen the 'B' can go well beyond the 5th wave, and the subsequent take off will likely be violent leaving little opportunity to enter. Hence the size of the entry box...
may be tempted to short down to the corner to allow for a hedged position at entry. the run down to the final low will be smooth but volatile making tight stop losses a bad idea.
The trouble with longing these is it's nearly impossibile to tell where the 'B' will finish. looking at previous bottoms in short time frames it can be seen the 'B' can go well beyond the 5th wave, and the subsequent take off will likely be violent leaving little opportunity to enter. Hence the size of the entry box...
may be tempted to short down to the corner to allow for a hedged position at entry. the run down to the final low will be smooth but volatile making tight stop losses a bad idea.
Order cancelled
buy the rumor they say and thankfully I was long when it hit... thinking about the short mentioned down to the corner.. the short TF waves were indicating more up.
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