Daily // 4H // 1H // 30m // 15m
get context for the set-up (what you want to see: clean impulse, choppy correction)
The major complexed correction on the daily might have another leg down. Price has swung, impulse has been made, trading the continuation pattern.
TREND on entry timeframe determined by SMA if subjective (✓)
IMPULSE registering ADX>25 (✓) ADX42
COIL structure clear formation relative to prior impulse (✓)
Flag // Rectangle // Pennant // Wedge // Triangle // Diamond
Fibonacci 50%–61.8% // S&R Level // Trend Line // Moving Average
ABC // ABCDE // Extended Combo
Entry @ Break of Structure // Area of Value + Candlesticks
Stop Loss @ +1ATR away from last wick // SMA as guide
Take Profit @ Length of Prior Impulse // Next Area of Value
1% capital risked for potentially 2.5R
Entry: 111.4 | Stop loss: 112.6 (-120 points) | Take Profit: 108.3 (+310 points)
Possible structure progression? What was initially thought of as ABC was actually the 3 waves in A. If it’s a 3-3-5 then Wave C might be a bit more complexed?
If price breaks out favourably, risk halved
If two-thirds of anticipated impulse, shift to break even
If breakout + strong momentum + space to run, extend take profit and use trailing stop.
Remarks: Trade was shifted to breakeven after the retest of the triangle, however it was unrecorded. Selling is weak, however, idea still not fully invalidated. Bad management again?