PowerLedger - Counting Waves
- All boxes mark corrective patterns.
--> Red boxes are correction of primary
--> Yellow boxes are correction of cycle
*I labelled the degree of corrections next to each box.
Short/medium targets would be wave 1-2 fib ext. of the cycle.
Stoploss: if we go below the assumed finished correction of the first subwave wave of the third cycle. (ie, the red box on the very right)
Giving us an absurd risk/reward ratio of 14!
I will take the trade.
AL.
--> Red boxes are correction of primary
--> Yellow boxes are correction of cycle
*I labelled the degree of corrections next to each box.
Short/medium targets would be wave 1-2 fib ext. of the cycle.
Stoploss: if we go below the assumed finished correction of the first subwave wave of the third cycle. (ie, the red box on the very right)
Giving us an absurd risk/reward ratio of 14!
I will take the trade.
AL.
Note
im just gonna close this with btc doing its thing
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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.