I had a script find a signal and now that I am looking at what it did it appears to have found a 4 point which is my preferred spot to enter. It originally gave about a 6 RRR but I am at break even now with a target to take half off at the 1.618 and let the rest run.
I would not have taken that trade without the script since I had manually plotted this pattern to be a WXYXZ. However if this turns out to be a 5 wave impulse instead then price will break the measured move symmetry of the WXYXZ.
So which will win? I'll check in the morning to see.
I would not have taken that trade without the script since I had manually plotted this pattern to be a WXYXZ. However if this turns out to be a 5 wave impulse instead then price will break the measured move symmetry of the WXYXZ.
So which will win? I'll check in the morning to see.
Comment:
Script gave another signal and I scaled in. Moved stop up so overall risk on trade is zero. Not increasing size of scale out, will take effectively 25% off at the original 7 R point and let the rest run until I have a better count. Considering it may be making measured moves like the boxes:
Comment:
Over night it hit the break even stop, would have been better not to scale in again on 2nd signal but instead ratchet up the stop to the same place without actually adding size.
