Ship sailed by the dock but didn't stop. I hope you jumped on? If not you may get another chance
Let's see if the Pirate ship is ready to head back to port so we can jump on too.
Here is a path from current price to pull back 3 waves before continuing down to the 8.0 target
THETA could retrace into the demand zone at 7.50to 8.0 If that zone fails, I would be looking for buys at 6.3
RULES 1. Price must be above 50 SMA (Green) 2. 9 EMA (blue) must be above 30 WMA (orange) and widening 3. Trigger candle (red) closes between 9 EMA (blue) and 30 WMA (orange) 4. Set a BUY STOP order above trigger candle. 5. Set STOP LOSS @ 2 X 14 ATR (blue dots) below trigger candle 6. TP1 = 1x RISK 7. When TP1 hits move stop to break even and trail up...
Based on the bottom of the triangle, and the 4 hour signal candle, I placed my limit order at 50% of the 4 hour signal candle. Stop located just below the X. I am targeting local resistance with TP1 and TP2
APPROACHING resistance. look for potential short term sell setup. Short short term. Then if price retraces and finds support in the pocket, or demand zone look for a higher low and potential longer term long set up, this could be trend reversal.
It looks like after a big wave down. Targets hit, the next week or more will ride. Its at long entry now.
On this chart I can show you how I use FIBs to catch retracements and target exits.
Looks like a quick fake out at the bottom of a long run down. Markets gapped and are looking top make a run up. This is on its way to wave 3 of the first wave up. I see clear green skies ahead.
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