Current structure is a WXY correction upwards.
(WXY) : Consists of a smaller WXY structure
WXY: Wave W consists of 3 waves, also a wxy because of its complexity.
Wave X is the most complex wave of all of them, not dividing it into smaller waves may be wiser.
Wave Y consists of a 5 wave sequence, with my target at around 8.1k, could also go to 9k to fill the gap (wave 3 extension).
Stoploss can be put under wave (ii) of the current sequence.
However putting it slightly below the support at 7200 ish gives better risk management.
Let me know what you think about this idea.
Greetings
(WXY) : Consists of a smaller WXY structure
WXY: Wave W consists of 3 waves, also a wxy because of its complexity.
Wave X is the most complex wave of all of them, not dividing it into smaller waves may be wiser.
Wave Y consists of a 5 wave sequence, with my target at around 8.1k, could also go to 9k to fill the gap (wave 3 extension).
Stoploss can be put under wave (ii) of the current sequence.
However putting it slightly below the support at 7200 ish gives better risk management.
Let me know what you think about this idea.
Greetings