I don't usually trade on time frames this short but it looks inviting. It looks like an ending diagonal at the very top for wave V. BUT... It could just be a pause before more upside so I am well aware of the risk.
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Well that stinks. But I'm not out yet. It's not unusual for an ending diagonal to be at the top of a third wave. So it is possible the very last upward wave in this leg is ending soon. I took options on this trade so I am willing to let my option draw down by 40% to 50%. Basically if your options have drawn down that much it's unlikely they will recover. And it was a small risk as well. Let's see how it turns out in the end.Related publications
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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.