Showing what should be a clear 5 wave move coming in to the downside here. (pink pen)
The yellow pen is what would be expected if we get a slightly higher retracement or if the market is going up now long term.
I think we can all agree Its good to manage risk properly and have clear ideas on both sides of the market you're trading (buy and sell) and not have a personal bias. Instead, have a clear trade plan and trade that plan! That plan should have specific buy and sell entries, and right now we are setting up some great R/R for a continuation short here.
The fact the waves are clear to me and not confusing or anything really does give me a bit of bias tho, its completing the sub-waves lower...theres no reason to buy, through my trade plan, until these sub-waves start getting violated to the upside.
The yellow pen is what would be expected if we get a slightly higher retracement or if the market is going up now long term.
I think we can all agree Its good to manage risk properly and have clear ideas on both sides of the market you're trading (buy and sell) and not have a personal bias. Instead, have a clear trade plan and trade that plan! That plan should have specific buy and sell entries, and right now we are setting up some great R/R for a continuation short here.
The fact the waves are clear to me and not confusing or anything really does give me a bit of bias tho, its completing the sub-waves lower...theres no reason to buy, through my trade plan, until these sub-waves start getting violated to the upside.