DOW / H2 : possible ending diagonal to terminate "Trump" wave

13 Jun 2017

Better watch this closely. There's very interesting risk reward ratio here. And I'll probably drop a short if we have a bearish breakout of that possible ending diagonal formation that would complete the 5th wave of our second impulse of higher degree. Market is still bullish (wave 3... so still have a 5th wave to complete) but as our 3rd wave here provided not a single retracement within its 2&4 subwaves, generally we see those impulses ending with an "ending diagonal" like this. Typically meaning the exhaustion of a wave that got too far. Other tip, those wave are generally retraced a little bit more that the usual 38,2% retracement target for wave 4. It generally shows a complex retracement with WXYXZ form that goes near 50% retracement. So keep that in mind for your targets and bullish reactivation zone.

13 Jun 2017

Trade aktif

First agressive entry made right here. Maybe a little too soon, the best would have been to wait for 100-127% extension of previous subwave as displayed on the chart