The main idea of this trade is to catch the end of a 3 wave correction
and the big 3rd wave higher. But, if the opportunity to grab the C wave
down presents itself I'll give it a ride for +100 pips or so, depending
on the end of B. {relying on the candlesticks for a clean entry}
I've been trying to catch a 3rd wave for some time so I'm hoping
my dry spell is over with this good looking set up.
Looking for a long entry right in between the 50 - 618 Fib
where A will equal C.
(If price does not turn around right away at about 138.00 my
idea is in doubt so I'm placing small stop loss and look
to reevaluate if it takes me out)
If this is a 3rd wave it could be worth as many
as 500 pips.
and the big 3rd wave higher. But, if the opportunity to grab the C wave
down presents itself I'll give it a ride for +100 pips or so, depending
on the end of B. {relying on the candlesticks for a clean entry}
I've been trying to catch a 3rd wave for some time so I'm hoping
my dry spell is over with this good looking set up.
Looking for a long entry right in between the 50 - 618 Fib
where A will equal C.
(If price does not turn around right away at about 138.00 my
idea is in doubt so I'm placing small stop loss and look
to reevaluate if it takes me out)
If this is a 3rd wave it could be worth as many
as 500 pips.