I am a bit late to post it, but you are still not late to go short. I would love to see a 5-day downward move.
Notice how the ATR goes down throughout the entire upward move beginning from 4 September 2015. It has finally changed direction in the beginning of the last downward leg, that is, the P1-P2 leg shown in the chart. Interpreting the P2-P3 leg is crucial in this short. First, It bounced from the LMLH, which indicates that the target is UWL1. Second, it is clearly a less enthusiastic move in terms of the ATR. It is important here to also note that the ATR turns upward again with the final bounce from LMLH. Third, P3 could not reach the ML of the P0-P1-P2 pitchfork. Thus the Hagopian rule says short when the upward TL is broken. Well, it has been broken today. Fourth, the last candle of P2-P3 is a reversal candle. Fifth, the bearish Stoch crossover. All in all, it seems there's enough reason to go short on this pair.
The lower time-frame charts suggests that there might be little pullback during the day. So maybe it's best to wait until we close the last day candle, and short then.
Notice how the ATR goes down throughout the entire upward move beginning from 4 September 2015. It has finally changed direction in the beginning of the last downward leg, that is, the P1-P2 leg shown in the chart. Interpreting the P2-P3 leg is crucial in this short. First, It bounced from the LMLH, which indicates that the target is UWL1. Second, it is clearly a less enthusiastic move in terms of the ATR. It is important here to also note that the ATR turns upward again with the final bounce from LMLH. Third, P3 could not reach the ML of the P0-P1-P2 pitchfork. Thus the Hagopian rule says short when the upward TL is broken. Well, it has been broken today. Fourth, the last candle of P2-P3 is a reversal candle. Fifth, the bearish Stoch crossover. All in all, it seems there's enough reason to go short on this pair.
The lower time-frame charts suggests that there might be little pullback during the day. So maybe it's best to wait until we close the last day candle, and short then.
Bình luận:
5-wave down impulse could be seen in the hourly chart. We should wait for the expected 3-wave up correction to show up to get in the train. Stops should be around P3 with LWL1 as the initial target.
Bình luận:
Move S/L to B/E.
Đóng lệnh: đạt mục tiêu:
LWL2 touched. Profits taken.