Post by zzamand56 on Mar 12, 2024 18:29:26 GMT 9.5
We must close two of them to make an instant profit (red horizontal line on the chart) and cancel pending orders.in case the market does not reverse and continue to rise, which is common for extended first waves. Trading in the third wave of the main level Later, you can also open a short position in the second wave of the main level if you are sure that the correction has started. However, Bill Williams does not mention this in his multi-level trading strategy, suggesting that you open the next position at the beginning of wave (3). LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance This time, we take profit on a short position on the first candle of wave (3) and open five conditional parts (the opening level on the chart is the blue horizontal line).
If the correction does not end and there is a double bottom, you can enter one more operation, that is, we can open a total of 6 parts of the deposit or 60%. If the correction does not end, a stop loss is also set below the base of the first wave (pink horizontal line). At this moment, we open 10 positions slightly below the zero point. It will only take a small downward move of a few percentage Belize Mobile Number List points, plus the profits made from the recently closed position, enough to cover the losses. The next critical point is where the currently developing third wave reached the length of the first wave. At this stage, there may be several scenarios: LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance If the market stops the movement and retraces back below the peak of the first wave, the best idea will be to sell the existing long orders (red horizontal line on the chart).
Additionally, you have 10 conditional pending orders set at the stop loss level, you need to cancel them. The next step is to open a six-order short position slightly lower than the high point (below the red horizontal line), which was thought to be the peak of wave (1). The logic is simple. We are still not entirely sure what exactly is happening in the market, but, if the buyers are not strong enough to consolidate the price above the critical level, a correction may well begin and the structure could break. Therefore, orders should be canceled until the situation becomes clear or we can open shorts if there are bearish signals (see wave relations according to Prechter and the Williams “5 bullets” signal). LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance If the price continues to rise and surpasses the 110% level of the top of wave (1) (blue horizontal line on the chart), it is likely that our forecast is correct and the third wave is developing. Another signal indicating the third wave that Robert Prechter noticed is high volume.
If the correction does not end and there is a double bottom, you can enter one more operation, that is, we can open a total of 6 parts of the deposit or 60%. If the correction does not end, a stop loss is also set below the base of the first wave (pink horizontal line). At this moment, we open 10 positions slightly below the zero point. It will only take a small downward move of a few percentage Belize Mobile Number List points, plus the profits made from the recently closed position, enough to cover the losses. The next critical point is where the currently developing third wave reached the length of the first wave. At this stage, there may be several scenarios: LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance If the market stops the movement and retraces back below the peak of the first wave, the best idea will be to sell the existing long orders (red horizontal line on the chart).
Additionally, you have 10 conditional pending orders set at the stop loss level, you need to cancel them. The next step is to open a six-order short position slightly lower than the high point (below the red horizontal line), which was thought to be the peak of wave (1). The logic is simple. We are still not entirely sure what exactly is happening in the market, but, if the buyers are not strong enough to consolidate the price above the critical level, a correction may well begin and the structure could break. Therefore, orders should be canceled until the situation becomes clear or we can open shorts if there are bearish signals (see wave relations according to Prechter and the Williams “5 bullets” signal). LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance If the price continues to rise and surpasses the 110% level of the top of wave (1) (blue horizontal line on the chart), it is likely that our forecast is correct and the third wave is developing. Another signal indicating the third wave that Robert Prechter noticed is high volume.