This trade caused a lost of 30 points.
Background of trade.
1/- Day closes of the previous two days are above 23050 which is regarded by me as a breakthrough of an uptrend.
2/- One five waves structured of 873 points originated from 22368 was completed topped at 23241 which length of wave 1 equals to wave 5 and 1.382 of the former wave (23001-22364=637x38.2%=243+23001=23244 +/- 3 pts.) A deeper correction was anticipated.
But to my opinion , this finished wave was only a 3-1 wave, only one part of the whole 3rd wave.
3/- 22857 is the intersecting point of the Black and Green Trendlines.
4/- we hoped that, after a rapid intraday correction, it would go back to 23050 once again making 3 days in a row.
Unfortunately, we failed the trade but our lost was limited with a protective stop.
Tomorrow, we will buy again if the open is not lower than today's low 22791.
Trading Range: 23050--22791 = 259
Buying Range: 259/5+22791=<22843 p="">Happy Trading
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