EGLD is starting to look interesting on the 4 hour chart. A diametric structure appears to be forming, and price looks like it is moving through the late stages of wave G.
The green zone on the chart is the area I am watching for the completion of wave G, or at least the completion of the first part of it. If that zone holds, it can set up a cleaner long opportunity.
What I am watching
The green zone is the potential completion area for wave G
Entry zone and targets are already marked on the chart
The idea stays valid only if price respects the invalidation level
Invalidation
If we get a daily candle close below the invalidation level, this setup is invalid and I will not hold the long bias.
Risk management plan
Always use a stop loss and proper position sizing
When price reaches the first target, take partial profit
After TP1, move stop loss to entry to protect capital
If you have questions, comment and I will reply.
Not financial advice. Trade safely.
