Buckle up folks! We are going down

This morning I had a pleasure to acknowledge that my previous count was slightly wrong.

It is an interesting feeling. On the one hand, you have to go through small pain of admitting your mistake on the other - you are seeing a much clearer picture which reinforces the bigger context of your trades.

Wave 2 (circled) has just finished having formed flat ABC structure. This means that brutal bearish price action is coming in the next few days/weeks. I will be adding shorts today with a tight stop just above wave 2.

Kommentera:

wow... this was a very miserable experience to learn in the morning (after US session) that my 'best count of the month' is nonsense.

I made two mistakes again
1) I gave this opportunity a preference, made it my 'top opportunity', therefore skewed my risk profile
2) did not cover 100% position with stops, loosing more than I was willing to give