That's all from me . I hope you all have a greet trading week . If your have nay questions feel free to ask @mwakasole
XAGUSD 1H ... today is Monday we are not trading any significant moves we ar just feeling the market . our initial analysis is that the correction phase has completed with this wave (c) of an irregular flat . Now we are looking for buying possibilities but price might extend the wave 5 of wave (5) even lower
Why buy at that particular price .... Case study 1 for this week
So this was a trade yesterday . The count was right and price eventually went down but went up again before it really fell taking me out . This is classic wave problem that most of us face . Usually wave can extend and even when you have a solid count wave are soo subjected to this and this problem will show itself Cleary when yo know waves ... how do you avoid this
Instead wait for price to break the depth line . That will form a sub wave 1 then wait for sub wave 2 for confirmation of a buy . This are where high probability setups are formed . Now the drawdown to this is you might miss some great opportunities and sometimes the risk to reward might be lower than 3 .
NOTE ; this is for all timeframes above the 15 minute chart . Anything below that this will fail more than 50% because of manipulation and stop hunts . And obviously this is a more complicated subject I can't teach here but if you study on your own you may get the point am trying to make