Price and Time

[tradingwizzard 10]

here's a nice situation in which both price and time should be considered and basically the time element only comes to give you confirmation that the price target is valid

 

this is happening in any wedge and the thing to consider is that after the 2-4 trend line of a wedge is broken, usually the fifty percent retracement of the whole wedge (just take a Fibo tool and find the level) is reached in less then the time taken for the whole wedge to form

 

so just by taking 2 vertical lines and measuring the length of the wedge, projecting the time element on the right side and wait for the 50% retracement (Price) to be reached in that specific time you projected on the right side (Time)

 

if target is not reached in that time, and the time expires, then you can consider closing the trade as the structure you looked at (the wedge) is not actually a wedge.

 

attached there is a eurjpy chart as an example

TW

[safnur 10]

Thanks for your kind information