5 Waves Impulse Up In Process
We see a beautiful ABC pattern form with a breakout immediately after C forms. We are currently in subwave 3 of 5. The next hours / day(s) may spend consolidating wave 4, before the wave 5 breakout. Wave 3 was a simple 1:1 extension that hit with flying colors, therefore wave 5's target stands slightly under 161.8 extension.
Here is a specific risk to reward scenario:
Long Trade
Risk to Reward = 4.52
Entry Price = 4851-5000 Sat
Target = 6200 Sat
Stop Loss = 4600 Sat
Chain to gain = 26.69%
Chance to lose = 5.9%
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Please consider these videos:
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - Tutorial Part 2 How to Analyze Candlesticks Charts with Strategy
Lesson 3- Let's learn Moving Averages
Lesson 4- Let's Learn Relative Strength Index RSI with Advanced Strategy
Lesson 5 Let's Learn MACD and Histogram
Lesson 6 Let's Learn Margin Trading Long, Short, Leveraging
Lesson 7 Let's Learn Basic Risk Management
Lesson 8 Let's Learn Fibonacci Retracement Part 1
Lesson 9 Let's Learn Fibonacci Extension Part 2
Lesson 10 Let's Learn Laddering
Lesson 11 Let's Learn Time Frames
Lesson 12 Lesson 12 Let's Learn Swing Trading Advanced 55 EMA Strategy
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That's a stellar analysis Phil!
ty sir! may the profits be ever in your favour!
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STOPMy chart was a bit less sophisticated, but trend has similar direction :-)
Please, take into account Stellar's future events and achievments.
Great post. Thanks for sharing.
Thanks for the very clear analysis, I'm going to start with your training videos today. You have a great style of teaching, making stuff easy to understand. Thanks so much for putting this out there for free.
He's so good!