Idea is that we are in wave B, and a wave Y triangle of lesser degree. When I saw this count and it appears to be adhering to rules, I actually market sold because we are in the middle of the range. I have a VERY clear SL, assuming that wave C of the triangle is complete.
If C is not complete, I have a decent risk of being stopped out.
Expecting E to stop short of the upper line, so my entry is OK.
Lets see!!
If C is not complete, I have a decent risk of being stopped out.
Expecting E to stop short of the upper line, so my entry is OK.
Lets see!!
Well what do you know, the trade turned and went in my favor. I saw that it is not uncommon for the E to stop short or GO ABOVE the TL. Now I will remember that.
Smll loss but I missed out on potential profits.