This is not financial advice, but a 2:1 risk to reward ratio set up is possible here. By setting your stop loss below the peak of orange wave 1, you can ride this wave up. when green wave 4 is over and 5 is in progress, you can raise your stop to just below the low of green wave 4. The fibonacci cluster is where white wave 3 will be 1.618* the length of wave 1 AND green wave 3 will equal 1.618* the length of wave 1. For those that do not know, 1.618 is a common multiple, also known as the golden ratio, that wave 3 will be relative to wave 1.
Enter this trade at your own risk, this is just for educational and research purposes. Best of luck to those that do chose to go long.
Enter this trade at your own risk, this is just for educational and research purposes. Best of luck to those that do chose to go long.