Steve Griffiths
12-15-2004, 06:17 AM
Hi Everybody,
This post shows how sometimes the current trade only reaches the important 2-3 profit zone before reversing (the blue area on the chart). As taught in the Trading Course, advanced traders can choose to take at least partial profits at this importnat level.
It is intersting that this example was not ideal, because the TS2 wave C low was off the maximum Wave C WPT (not the typical as normal). This was an indication that the resulting rally would have been weaker than anticipated. One reason to bank profits at the 2-3 porfit zone rather than waiting for the standard profit targets.
Thanks
Steve
This post shows how sometimes the current trade only reaches the important 2-3 profit zone before reversing (the blue area on the chart). As taught in the Trading Course, advanced traders can choose to take at least partial profits at this importnat level.
It is intersting that this example was not ideal, because the TS2 wave C low was off the maximum Wave C WPT (not the typical as normal). This was an indication that the resulting rally would have been weaker than anticipated. One reason to bank profits at the 2-3 porfit zone rather than waiting for the standard profit targets.
Thanks
Steve