Tuesday, October 16, 2012

EURUSD ABCDE TRI or ABC up?

looking to short eurusd or gbpusd
price targets:
eurusd:1.3030
gbpusd:1.6125
Rationale:
based on my EW count, it is highyly likely eurusd is trying to do a ABCDE tri or an ABC up from the 1.2800 interim bottom. the trick lies in the eurjpy and gbpjpy that is y i m relucant to short too early and wait for a good count before shorting.
on a side note. spx is due for an interim bottom this week, and shorts r to be wary this week
stay sharp!
update1: target has reached but do not short yet as exp suggest more up still and there is no reaction yet
update2: as expected. eurusd n gbpusd has rallied more. i m rdy to short gbpusd @ 1.6125
update3: as internal wave count suggest 1 more minor w5 to complete the wave up i m gg to risk the 1.6125 short and wait to short higher for gbpusd @ perhaps 1.6145.
update4: shorted gbpusd @1.6125. will update this trade in the nxt few days
update5: there should be 1 more rally higher to finish off my wave for gbpusd. thus i dont think i got the top short for gbpusd :(

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