One of the biggest problem in trading is to derive where will our target be- there are some lame solutions like automatic stops or just using previous high low etc.
I dont use any of these. listen very carefully because no one will teach you that or explain it to you.
This is like newton law- i look where i got my signal and derive my target accordingly.
So here is my forecast-since we got out signal right at the 88 fib i expect it to go down to the 112 fib extension which is 1965.75 - bottom right arrow.
now here is some extra magic- i measured for symmetry using the F9 key so first measure is the two left arrows which is the last move down. i use the last low of 2104.75 and add that exact distance and this is just amazing - i am getting the same exact level 1965.91 - so we are talking about 1 tick difference.
so- bottom line- my target now is 1965.75 but i am going to add 1 or 2 points just to make sure i get a fill.
so now you can make the math- i got in at 2104.25 and will exit at 1967 for about 137 points- if that is not good or accurate then please correct me.
now- keep in mind that things can change because the market is active and keeps changing all the time but this is almost 7000$ per 1 contract that is very good.
so lets keep watching and see what is happening in real time.
p.s- i am not really thrilled with the last two days down move compared to the volume- i would expect a mich stronger move using that gas-volume- but there is nothing i can do other than plan.
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