I think many were caught out yesterday with the wave 5 shown on
the cash SPX chart to pop after the triangle. This only
happened on the futures market. That is why I dont try and squeeze
the last few dolars out of a move because more often than not you
get caught on the wrong side!
Posted by mirhamedali on 14th of Sep 2022 at 10:29 am
The challenge is that you don't know when the wave three will
end because they have a tendency to extend. You also want to let
winners run a bit. So I typically wait for a wave four and then
exit as soon as we pop into wave five. I don't milk the wave five
at all. The other challenge is that sometimes we get a truncated
wave five. The best solution is to take profits as you go
especially when wave three is extending.
I think many were caught
Posted by kobie on 14th of Sep 2022 at 06:42 am
I think many were caught out yesterday with the wave 5 shown on the cash SPX chart to pop after the triangle. This only happened on the futures market. That is why I dont try and squeeze the last few dolars out of a move because more often than not you get caught on the wrong side!
exactly - try to make
Posted by matt on 14th of Sep 2022 at 09:36 am
exactly - try to make your money on the wave 3's as that's your big trending waves, and don't even mess with wave 2's and 4s
The challenge is that you
Posted by mirhamedali on 14th of Sep 2022 at 10:29 am
The challenge is that you don't know when the wave three will end because they have a tendency to extend. You also want to let winners run a bit. So I typically wait for a wave four and then exit as soon as we pop into wave five. I don't milk the wave five at all. The other challenge is that sometimes we get a truncated wave five. The best solution is to take profits as you go especially when wave three is extending.
Especially 4's
Posted by retirefire on 14th of Sep 2022 at 10:11 am
Especially 4's