In this video, I go through exactly how I plotted the wave counts that I published on 3rd April (linked to this idea). I also show how to estimate price target using support and Fibonacci extensions. Lastly, I talk about trading productivity again and why I recommend to take out some of your short position.
There are 3 main reasons:
1. We have completed wave 3 of 3 and is now going into wave 4 (and wave 4 are notorious for being unpredictable and may even have triple combinations).
2. We are what? 80% in the money and it happens very fast. So productivity wise, it is good to take some money off the table.
3. Weekend risk.
I am putting this idea as "Neutral" even though I am still expecting a wave 5 down. Reason is because we are in wave 4, and also because I pray that I can find time to update again when wave 4 ends and wave 5 of 3 starts.
Good luck!
There are 3 main reasons:
1. We have completed wave 3 of 3 and is now going into wave 4 (and wave 4 are notorious for being unpredictable and may even have triple combinations).
2. We are what? 80% in the money and it happens very fast. So productivity wise, it is good to take some money off the table.
3. Weekend risk.
I am putting this idea as "Neutral" even though I am still expecting a wave 5 down. Reason is because we are in wave 4, and also because I pray that I can find time to update again when wave 4 ends and wave 5 of 3 starts.
Good luck!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.