Trade#8 update

Short and bitter on the update. The added positions were stopped out as the supposed 5th wave appears to be extending. Got hit at the stop levels for -45.2 and -46.2pips. That hurt. What I thought was the top, was in fact just the first wave of that fifth. The four-hour chart pattern is entering the picture, that’s the upper most down slanting trendline, and P/A just may shoot for that. Unfortunately, that is in the same area as the final stop out for the first position.

Shorts will be re-entered on a break of the orange up channel. One last try before stepping aside for a bit. If …IF…i’m correct this time, there should be a small pull-back that triangles out then a boost out the top which should be the top. If you can find that, take it. I will if I see it.

Here is the latest chart with a few note:
chart

This entry was posted in Trades. Bookmark the permalink.

Leave a Reply