Possible ending diagonal trade
Diminishing volume, actionary wave length, and converging trendlines here appear to be setting up for a minor dump. The ending diagonal that plays out is a good quick fire trade that can have great risk/reward, with an entry point close to the invalidation (100% of wave 3), and the stop loss just beyond.
Taking this would require calibrating to the exact prices on whichever broker the trade is executed on, and especially as it's a counter trend (at the larger degree) trade, must be protected by a stop loss.
Usually the termination point of wave 2 is a good target.
Taking this would require calibrating to the exact prices on whichever broker the trade is executed on, and especially as it's a counter trend (at the larger degree) trade, must be protected by a stop loss.
Usually the termination point of wave 2 is a good target.
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