Perfect structure for a 3-to-1 risk/reward trade. Tagged the 61.8 for a nice wave-2 of Wave-5. Clear stop out point with a break of the Wave-1 high. These are trades that will reward you over time. It's not a matter of whether "this" particular trade is successful. It's the consistency of taking a trade with this kind of risk reward repeatedly over time. The ones that are successful and reach their targets will more than compensate you for those that are stopped out. The "key" to this trading reality is to keep your stops in at all times, take the hits when you're stopped out but you must keep firing when you see a setup like this. Go get some...
Trade active
I Still like it. Wave counts change all the time as the market reveals itself... I still see a wave count I can ride. I say with it...
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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.