Guys I was looking for a short trade to the bottom of the channel. It doesn't look like that's going to happen as price seems to have broken out of the channel. Let's see what type of correction it makes. If it's shallow we might get a nice long set up but if it's sharp we may have to wait for it to complete before finding a safe long entry point. Either way I'm only looking for a long trade.
I'll update my analysis as price develops so remember to follow to receive them. You can also follow updates via twitter (link from my TV profile)
Always wait for an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome
Good luck Steve
I'll update my analysis as price develops so remember to follow to receive them. You can also follow updates via twitter (link from my TV profile)
Always wait for an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome
Good luck Steve
註釋
"It may go lower" not "I may go lower"註釋
Another opportunity to emphasise why we wait for the correct set up before opening a trade. I was waiting for a long trade set up here but it didn't meet my rules so I'm not in the trade. What happened next - look at the chart if dramatically went in the opposite direction. This is where traders lose money - despite the correct looking structure for a long price reversed - if you are not sure or your rules have not been met - stay out of the trade. 註釋
So where are we now with this and why did it not go long after a "breakout" This is difficult to show on a static chart because chart analysis is dynamic but if we zoom out a little bit we'll see that the price is still in a correction and is going down for one more wave before presumably going long again. It will not proceed in a straight line but it is highly probable that it will descend to the channel bottom.註釋
For clarity 3 wave means a three wave move down. So we're looking for the 3rd wave of three and we are currently in the 2nd wave of threeTwitter: twitter.com/logicfxtrading
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。