This silver futures chart shows a nice Molokai Setup. It isn’t pretty, and it doesn’t have to be.
Why the Setup Doesn’t Have to Be Pretty
Remember: the Setup doesn’t have to be pretty, though in our hearts we would like it to be! It just must meet the buyer-seller struggle parameters for the Setup.
Trading the Line from the Count
At the Count shown in blue, you could go Trade the Line with either one-half or one-third of your total position (lot size).
This post is educational commentary on chart structure using Goodman Wave Theory. It is not investment advice. Trading futures and FX involves substantial risk of loss.
Good Trading!
Michael Duane Archer
Related Reading
- Why $175 Silver? A Goodman Levels Price Objective
- Second Chance Entry in Goodman Wave Theory (Don’t Panic)
Keep Learning the Goodman Way
If this article was useful, these are the next steps:
- The Method: propagation, intersection and the 3-C Principle, drawn plate by plate.
- The Goodman Library: the books, from Goodman for Grasshoppers to The Goodman 6 & 6.
- The Trader’s Playbook: the Molokai setup in one printed, numbered volume.
- Mentoring: work one-on-one with the authors.
Educational onlyThis post is educational material. Nothing in it is a trade idea, signal or recommendation. Trading foreign exchange, futures and equities involves substantial risk of loss and is not suitable for every investor. Past performance is not indicative of future results.