Using Elliot Wave and Fibonacci as my main trading techniques. Watch how i use intermarket analysis, fundamentals and market psychology to earn a fortune from this market. The goal is to achieve 100pips profit every week!
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 :(
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment