Day Trading Plan Example

Gathered Information + Hints based trading

4H wave structure shows Wave 5 down starting.

Market went to the daily fuel limit yest -> today should be a follow through with a no break extension.

wave 5 of wave 5 is likely to kick in from beyond E16.

Trading plan for the day: go short above E-16 and target a lower low, 4, 7 pips beyond the low made by Wave 3 of Wave 5.

Why? Because you are expecting the downside volatility to dry out.

Exit 1/2 at 1.1032, 1/2 at 1.1029

If it goes any further, go long for a possible mean reversion to 1.11

Once the Bear Zone was engaged, the count up started. After 9 hours you had an idea where to sell at, but the E-16 was also there in blue.
There is a continuation divergence marker showing the end of wave 4 (of Wave 5).
The 3-wave structure ends in a Measuring leg, a Divergent leg and the Beat, which is a displacement from the Measuring leg.

One visual representation of reaching a daily fuel limit (a wave 3 would do that). Showing no consolidation since.

Here is an example from earlier of the Daily Fuel Limit’s follow up, the no-break extension.