HI Uttam,
The last W. you would have shorted at point 5 , right ? it then went down and retraced all the way to point 7. Would have been a failed W right since SL would have been hit seeing the price reverse and head towards point 7.......YES! this is a loss making trade. But volume spike at Point 7 would again give a trade and when WW forms with 1-3-5-7 it has higher chances of hitting EPA, very common in commodities (e.g. latest WW on Crude, overnight trade.)
So with real money I dont think it would have worked for sure. It would have been a losing trade.
Next. Isnt there a W formed ( bullish one) and as of today the price is on its way upto the EPA?
just my observations
The last W. you would have shorted at point 5 , right ? it then went down and retraced all the way to point 7. Would have been a failed W right since SL would have been hit seeing the price reverse and head towards point 7.......YES! this is a loss making trade. But volume spike at Point 7 would again give a trade and when WW forms with 1-3-5-7 it has higher chances of hitting EPA, very common in commodities (e.g. latest WW on Crude, overnight trade.)
So with real money I dont think it would have worked for sure. It would have been a losing trade.
Next. Isnt there a W formed ( bullish one) and as of today the price is on its way upto the EPA?
just my observations
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