In our last analysis, we identified that we were in a 535 zigzag pattern. We had a bullish setup on the completion of wave B (subwave C). We moved up perfectly and gained over 100% raw gain from that trade!
We are now at a critical zone. We are looking for a rejection here and then a move down to complete the major ABC zigzag pattern.
Trade Idea:
- Watch for rejection of structure
- Safe entry on break of red trendline
- There may be a risk trendline lower timeframe so do keep a look out for that
- Targets: 3.6, 2, taper positions thereafter
Goodluck and as always, trade safe!
See our last analysis below:
We are now at a critical zone. We are looking for a rejection here and then a move down to complete the major ABC zigzag pattern.
Trade Idea:
- Watch for rejection of structure
- Safe entry on break of red trendline
- There may be a risk trendline lower timeframe so do keep a look out for that
- Targets: 3.6, 2, taper positions thereafter
Goodluck and as always, trade safe!
See our last analysis below:
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