Hello traders!
In the previous post we explained our two different scenarios. However, since price has taken out 4136 and the main descending trendline, we are now considering only the bullish scenario and thus we believe to be in a primary wave (B) to the upside targeting 4300+. This primary (B) is unfolding as a double three, and with last ABC labeled on the main chart.
Price took the most bullish possibility, that we were not expecting, so our previous short trade was stopped out, but thanks to our risk management rules the loss was reduced and we are still positive in the month of February.
Bigger picture
We will just track and monitor the price action spotting possible setups. Happy trading!
In the previous post we explained our two different scenarios. However, since price has taken out 4136 and the main descending trendline, we are now considering only the bullish scenario and thus we believe to be in a primary wave (B) to the upside targeting 4300+. This primary (B) is unfolding as a double three, and with last ABC labeled on the main chart.
Price took the most bullish possibility, that we were not expecting, so our previous short trade was stopped out, but thanks to our risk management rules the loss was reduced and we are still positive in the month of February.
Bigger picture
Operación activa:
entering for wave v of 3
entry @4157 stop loss 4118 risk 0.5%
target level 4250
entry @4157 stop loss 4118 risk 0.5%
target level 4250
Operación activa:
added at retest. avg entry @4156.8
sl 4118 for 0.7% risk
sl 4118 for 0.7% risk
Operación activa:
typo before. average entry is @4157.8
Operación activa:
extending sl to 4094 risk 1.2%. Re-evauating tomorrow
Operación activa:
added @4096 average entry @4122 sl 4094 risk 1.5%
Operación activa:
leaving more breath around invalidation
Operación activa:
reducing some exposure closing part at average entry @4122.
Stop loss at 4091.7 risk 0.8%
Stop loss at 4091.7 risk 0.8%
Operación cerrada: precio stop alcanzado:
a but unlucky.. stop loss in the spike down by few points. loss 0.8%
Going up but slight overlap with respect to previous count. alternative in chart
Now flat and observing
Going up but slight overlap with respect to previous count. alternative in chart
Now flat and observing
Operación activa:
buying at the retest @4144
stop loss @4130 risk 0.3%
stop loss @4130 risk 0.3%
Comentarios:
retest failed
bearish below 4092
bearish below 4092
wave iv invalidation level 4095.1
bearis wolfe wave still valid may invalidate wave iv and would be wave ii of C.
Planning to reevaluate at market opening whether to cut or extend