The maximum Butterfly (blue) got us to TP1 only (7099)...
The small bat (green) did the job perfectly: TP1 and TP2 (7255-7213)...
Possible Crab (pink) completes around 7450...
Wouldn't this be a lovely level to short...?
Possible to phase in the entry starting right now and adding if it gets up there, I would even consider a third and final entry at 7495, just below the 7500 level...
Stops should at least be above 7500, depends on your strategy and number + level of entries...
Based on the perfect Crab the targets would be as follows:
TP1: 7156
TP2: 6973
The small bat (green) did the job perfectly: TP1 and TP2 (7255-7213)...
Possible Crab (pink) completes around 7450...
Wouldn't this be a lovely level to short...?
Possible to phase in the entry starting right now and adding if it gets up there, I would even consider a third and final entry at 7495, just below the 7500 level...
Stops should at least be above 7500, depends on your strategy and number + level of entries...
Based on the perfect Crab the targets would be as follows:
TP1: 7156
TP2: 6973
Note
Because the subwaves are not entirely according to the rules (wave 4 should not go into wave 1 territory (allthough it was a sharp turn) except if it's an ending diagonal...) there is an alternate count which could limit the drop and takes us even higher to complete the full 5 waves...:Note
Here we go! Or at least I think...Update here:
Note
TP1!
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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.