My previous trade idea on the same instrument has been invalidated. However, I believe that the trade idea is still valid and an update is required here. Basically, what is possibly happening is an extension of the corrective wave. This can be related to the delay in breakout of S&P to a new high (which actually builds up the power of in the event of actual breakout). Right now, the risk-to-reward ratio is even better.
Rarely do I put in the alternate counts, but this time, I added the alternate counts into idea. Buffer a bit more in terms of loss to cater for potential "throw over" in the price.
Good Luck!
Rarely do I put in the alternate counts, but this time, I added the alternate counts into idea. Buffer a bit more in terms of loss to cater for potential "throw over" in the price.
Good Luck!
評論:
As I mentioned in my original analysis, a throw over did happen. However, the trade has finally started to play out.
