Possible Wave 5 to follow completion of Wave 4 (Flat)
Following on from my previous post, wave C completed in 5 waves at the trend line as expected. I am now expecting to see a wave 5. However once again the risk:reward is not at least 3:1 so based on my trading system I will not be entering this trade. If I was entering, I would enter on a break of a horizontal line drawn from the beginning of wave 4 of C with my stop at the wave C extreme.
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.