Post by zzamand56 on Mar 12, 2024 9:00:12 GMT
Above all, its size is characteristic at the time of the breakout of key levels. , this is a strong confirmation signal and vice versa. If the signals point to the continuation of the bullish trend, we will add the position to the level of the blue line, bringing its total amount to ten parts. Right at this point you have to enter the market at the maximum, since the second half of the third wave usually presents the most intense bullish movement, while the risk is the lowest. To be safe, we need to set the partial take profit level for the long position below the peak of the first wave, there will be 4 closed parts. If the price falls below the peak of subwave 3 in wave (1), we close the remaining 6 parts and open shorts of the same size with the target at the base of the third failed wave.
If the third wave develops as planned, after opening 10 positions, our next objective is to find out the end point of the third wave and therefore the level for taking profits. It is better to make the preliminary forecast based on the Prechter proportions and wave alternation. Typically, the third wave is 100% to 161.8% of the length of the first wave. Also, it is worth remembering that if the first wave did not Belize Mobile Number List extend, the third wave is likely to extend. As you may remember from previous articles, an elongated third wave tends to reach 161.8% of the first wave and sometimes surpasses this level. LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance The 100%-161.8% range of wave (1) is marked with a blue area on the chart.
LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance You should follow the structure of the third wave as it develops. In our case, the alternation principle works and the third wave has an elongated structure (length of wave (3) is longer than wave (1), its structure is easily subdivided into nine waves and the probable elongation is found with the alternating pattern), marked with blue lines on the graph. Furthermore, the end of the fifth sub-wave is the critical point where the position must be closed. LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance In our case, there are multiple reasons to continue operating. First, 100% of the first wave has not reached the end of the fifth subwave. Since the first wave of the main formation is not elongated, the third wave should be at least equal to its length, in most cases exceeding it. The indicators emit similar signals.
If the third wave develops as planned, after opening 10 positions, our next objective is to find out the end point of the third wave and therefore the level for taking profits. It is better to make the preliminary forecast based on the Prechter proportions and wave alternation. Typically, the third wave is 100% to 161.8% of the length of the first wave. Also, it is worth remembering that if the first wave did not Belize Mobile Number List extend, the third wave is likely to extend. As you may remember from previous articles, an elongated third wave tends to reach 161.8% of the first wave and sometimes surpasses this level. LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance The 100%-161.8% range of wave (1) is marked with a blue area on the chart.
LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance You should follow the structure of the third wave as it develops. In our case, the alternation principle works and the third wave has an elongated structure (length of wave (3) is longer than wave (1), its structure is easily subdivided into nine waves and the probable elongation is found with the alternating pattern), marked with blue lines on the graph. Furthermore, the end of the fifth sub-wave is the critical point where the position must be closed. LiteFinance: Mixing Williams and Prechter systems in a trading strategy (part 1) | Litefinance In our case, there are multiple reasons to continue operating. First, 100% of the first wave has not reached the end of the fifth subwave. Since the first wave of the main formation is not elongated, the third wave should be at least equal to its length, in most cases exceeding it. The indicators emit similar signals.