Price is in a triangle for those last 2 years and is now in the last wave E as can be seen in this screenshot.
After a nice fall, price now retraced enough so that a short position can be opened with confidence.
Entry : 1.132
Stop : wave D high.
Target 1 : 110
Target 2 : 108
PS : See my previous post for the higher timeframe view.
PPS : Don't hesitate to comment, like and share :)
After a nice fall, price now retraced enough so that a short position can be opened with confidence.
Entry : 1.132
Stop : wave D high.
Target 1 : 110
Target 2 : 108
PS : See my previous post for the higher timeframe view.
PPS : Don't hesitate to comment, like and share :)
Note
If you want a tighter stop, here is one you could consider.Note
Wave C finished (?) just now it seems. Divergence confirms this.Therefore,
Entry : on channel break preferably
Target : 110 to 108 as said before.
Stop : above C @ 113.46
R/R Ratio : > 1:5 !!!
If you are already shorting, consider moving your Stop above wave C.
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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.
Related publications
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.