STA | Elliott Wave Projection | ZZ Correction ABC
Price action and chart pattern trading setup
> Leading Diagonal Family now the zigzag primary wave 4 can not go lower than wave 2 (slight overlapped maybe possible practically.)
> If wave 4 is a failure, the current wave would be reset to wave 2 and projected wave 3 would become wave 1.
> Wave 4 is always zigzag family - sideway breakout is optional as a combination with flat
> Wait for confirmed new wave breakout before entry at wave 2 or wave 4 minor
> 1st target for long can be set at 0.5 to 0.786 retracement top of wave 3
> The Final target at wave 5 always ends beyond wave 3 at 1.236 or 1.618 wave 4 retracements.
> Recommended risk reward ratio at 3:1 for medium and long term trade.
Always trade with affordable risk and respect your stoploss.
> Leading Diagonal Family now the zigzag primary wave 4 can not go lower than wave 2 (slight overlapped maybe possible practically.)
> If wave 4 is a failure, the current wave would be reset to wave 2 and projected wave 3 would become wave 1.
> Wave 4 is always zigzag family - sideway breakout is optional as a combination with flat
> Wait for confirmed new wave breakout before entry at wave 2 or wave 4 minor
> 1st target for long can be set at 0.5 to 0.786 retracement top of wave 3
> The Final target at wave 5 always ends beyond wave 3 at 1.236 or 1.618 wave 4 retracements.
> Recommended risk reward ratio at 3:1 for medium and long term trade.
Always trade with affordable risk and respect your stoploss.