Heres my chart. A break of Fridays high will ensure i add to my long.
If we break 1.5816 by March 11, then i will look forward for the drop to the next point (point blue 5 on chart due 22nd march) to get heavily long.
if the above happens then the low last friday will hold and the point 6 high will come in on 1st April and go higher than the point 4.
Thats one scenario.
The other scenario is that we do not break the Point 2 high at 1.5816 and drop to a new low (blue point 5) on 22nd March. so the market is the 10th/11th March, if is...
Awesome charting and idea of the "what could happen". What may be, might not be exactly what you expect but having an idea of what you are looking for is a definite advantage to you.
As long as you are exercising safe money management and are ready for a plan c if plan a and b don't go how you planned, you should be all good in the hood.
As a disclaimer, I play off of the shorter time frames so am not looking at the same targets. I do still believe the strength of the downtrend and will only look to the longs cautiously, but I do hope your targets get hit.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
mine too
