Dow in H8 chart
Aktualisiert
Hello
It is supposed that the price 38,010 was the low of wave II and we can expect rally to continue but nothing is valid unless the confirmations are met.
If you want to enter so you must get the first confirmation at least and for those conservatives second confirmation is necessary.
Please consider that I always talk about EW principles in my ideas and I use it to find a whole conception of the market as well as trends directions. I never use it to set up my entry point.
I recommend Volume Trading for this issue.
Thanks
It is supposed that the price 38,010 was the low of wave II and we can expect rally to continue but nothing is valid unless the confirmations are met.
If you want to enter so you must get the first confirmation at least and for those conservatives second confirmation is necessary.
Please consider that I always talk about EW principles in my ideas and I use it to find a whole conception of the market as well as trends directions. I never use it to set up my entry point.
I recommend Volume Trading for this issue.
Thanks
Anmerkung
see the chart?This is the reason of confirmation importance.
Anmerkung
waves 1,2 primary are valid yet and the pattern of wave 2 just changed.Invalidation = 38,010.51
Anmerkung
idea is valid yetAnmerkung
please consider that this consolidation pattern (waves 1,2 primary and following bullish impulse can be a Flat and the trend drops after it unless we get confirmation 2.In these situations I make my position risk free and wait. If it goes down I get in again and if goes up I will set stop trailing for my position.
The issue is that you need to enter in the best price with minimum risk (minimum SL) and then just be patient.
Most of traders get in the positions very good but stay on the chart (screen) and forget all reasons for the position they got and trend deceptive movements can convince them to get out.
Please get you positions and leave it. Just turn off your PC and do anything else.
These are the words we hear in everywhere like news, social medias, books, but never trust them.
Anmerkung
I expected to see more powerful movement of DOW to break out my confirmation 1 but I have more time and idea is valid yet.Anmerkung
38,000 = invalidation levelAnmerkung
How high it ganna go ?
AMA
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