On the higher timeframe, we appear to be in an ending diagonal. We caught both waves 2 and waves 3 at the very start, resulting in MASSIVE gains both short and long.
We are now in the mid section of wave 4. We could go on to create a complex ABC wave for subwave B before moving lower so keep that in mind if trading.
Trade Idea:
- Watch for lower timeframe trendline break or BOS to indicate signs of reversal
- Enter with stops above the current highs
- Target: 1975 (700pips), 1920 (1500pips)
Bare in mind that after hitting 1975, we could possibly make an ABC correction as indicated on the chart.
Goodluck and as always, trade safe!
See our previous setups below.
Wave 2:
Wave 3:
Wave 3 Continuation Trade:
We are now in the mid section of wave 4. We could go on to create a complex ABC wave for subwave B before moving lower so keep that in mind if trading.
Trade Idea:
- Watch for lower timeframe trendline break or BOS to indicate signs of reversal
- Enter with stops above the current highs
- Target: 1975 (700pips), 1920 (1500pips)
Bare in mind that after hitting 1975, we could possibly make an ABC correction as indicated on the chart.
Goodluck and as always, trade safe!
See our previous setups below.
Wave 2:
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