Updated
MATIC - Great R:R Trade! 🔥
MATIC gave us a complex wave 4 and now we're at the extremes of wave 4. We have an invalidation level in place and we're almost at that level.
Taking a short entry anywhere near the blue structure will give us a great risk to reward. There's only limited space for it to move up but there's 75% raw gain to be made on the short. We're expecting wave 5 to go below wave 3 so once we pass that, we'll be looking for reversal patterns to get in on the longs.
Trade Idea:
- On lower timeframe, watch for rejection of the blue structure. This can be done via trendline breaks or BOS etc.
- Enter with stops above the blue structure
- Target the recent lows as first targets. Taper off position as we move lower
Check out TradingElements_ idea for the weekly timeframe
Goodluck and as always, trade safe!
Taking a short entry anywhere near the blue structure will give us a great risk to reward. There's only limited space for it to move up but there's 75% raw gain to be made on the short. We're expecting wave 5 to go below wave 3 so once we pass that, we'll be looking for reversal patterns to get in on the longs.
Trade Idea:
- On lower timeframe, watch for rejection of the blue structure. This can be done via trendline breaks or BOS etc.
- Enter with stops above the blue structure
- Target the recent lows as first targets. Taper off position as we move lower
Check out TradingElements_ idea for the weekly timeframe
Goodluck and as always, trade safe!
Note
Boom! 35% raw gain!
Want more chart ups like this? Click the links below:
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Related publications
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.
Want more chart ups like this? Click the links below:
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Related publications
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.