The price of this contract rose from the lowest point of 47300 to 47800, completing the first wave of the upward trend. If investors missed this rise, they can enter the market to go long when the price pulls back or rises again. The take-profit point for the second wave of the upward trend can be initially calculated using the space of the first wave of the upward trend. The space of the first wave of the upward trend is calculated by subtracting 47300 from 47800, which is 500 points.
If entering the market to go long in the second wave of the upward trend, the first take-profit point of the second wave would be the lowest point of the second wave, which is approximately 47400 points plus 500 points, that is, 47900 points.
Regardless of the point at which we enter the market to go long in the second wave of the upward trend, as long as the price approaches 47900 points, we should actively take profits and exit.
