currently i am short on this pair. i'm expecting it to go down and move back into previous day's range. let see how this trade fares. will update it as me we move into asian session
Good morning Hafiz. This pair's Dec 13 high to Dec 30 low, drawing a Fibo, has now retrace at Fibo's 50% level. I am shorting with you. Let's see how it works out ...
If we go back to the high in Nov 18 (start of Wave 1) up to now, Jan 6, we may be in Wave 4 now, which hopefully is ending, and in the start phase of Wave 5, which would bring us below Dec 30 low. I would put my stop at 129.319 + 10 pips = 129.419 ......... which would invalidate the counts. Just sharing my thoughts, hope to invite other thoughts.
hye patrick.good to hear from u.do u have any good links to learn EW?i dont really use EW counts in my trades. im expecting this pair to go down to at least - 128.6. but will monitor closely using price action
forgot to put some details on the chart.please note that how nice the pair bounced from 50% fibo.take note that gbp pairs especially cable likes 50& fibo :)
No internet for many hours. That is bad. Hafiz, learn elliot wave from here http://www.babypips.com/school/elliott-wave-theory.html babypips.com, go to school and find. I also learnt a lot from Todd Gordon's tweets.
Just closed this position for +22 pips. Reason is (1) it is NFP today and price action will be slow pre- NFP and anything can happen on NFP. (2)USDJPY is poised to break-out UP, so it may drag this pair up too. (3) I cannot risk being offline again today. No position now. Off to work. Have a good day ahead.
Good morning ppl :)
This comment has been removed by the author.
ReplyDeleteGood morning Hafiz. This pair's Dec 13 high to Dec 30 low, drawing a Fibo, has now retrace at Fibo's 50% level. I am shorting with you. Let's see how it works out ...
ReplyDeleteIf we go back to the high in Nov 18 (start of Wave 1) up to now, Jan 6, we may be in Wave 4 now, which hopefully is ending, and in the start phase of Wave 5, which would bring us below Dec 30 low. I would put my stop at 129.319 + 10 pips = 129.419 ......... which would invalidate the counts. Just sharing my thoughts, hope to invite other thoughts.
ReplyDeletehye patrick.good to hear from u.do u have any good links to learn EW?i dont really use EW counts in my trades.
ReplyDeleteim expecting this pair to go down to at least - 128.6. but will monitor closely using price action
forgot to put some details on the chart.please note that how nice the pair bounced from 50% fibo.take note that gbp pairs especially cable likes 50& fibo :)
ReplyDeleteNo internet for many hours. That is bad. Hafiz, learn elliot wave from here
ReplyDeletehttp://www.babypips.com/school/elliott-wave-theory.html
babypips.com, go to school and find. I also learnt a lot from Todd Gordon's tweets.
Just closed this position for +22 pips. Reason is (1) it is NFP today and price action will be slow pre- NFP and anything can happen on NFP. (2)USDJPY is poised to break-out UP, so it may drag this pair up too. (3) I cannot risk being offline again today. No position now. Off to work. Have a good day ahead.
ReplyDelete