lazygeorge wrote:Hi all,
If MO or someone could clarify this for me,would a MZ be valid after such a period of time......seems to be holding.......
You want to keep your trades to within 2 periods after MOMO unless there is an XYXY pattern repeating.
In your picture, I would be trading short or maybe feeling for a bottom with a small order.
If I got half a position out there and price closed beyond that wick located 2 months to the left then I would feel all warm and fuzzy inside (after which I would trade off monthly low extremes to get the rest of my position out there).