Then I had already identified that (blue) you see in the MAIN chart above. And since then, I had been just been patiently waiting and waiting and waiting for this to get filled. Well, t has FINALLY happened!
25 days ago, I posted this chart:
In that chart, I showed 2 cyphers. One I labeled "cypher #1 (green) and the other #2 (yellow). #1 worked out PERFECTLY and I gained +374 pips off a SELL from that #1. Well, now (actually a few days ago), the #2 has been completed and prices are currently testing its' PRZ.
Also, compare my predictions on the above chart as to how prices went after I had posted that chart. The reason I find it important to look back on past posts and predictions to see how close I was to being correct in m predictions is to give myself more confidence that I am on the right track as far as following the price action and what the chart is telling me as well as more evidence that my wave count is correct.
So in having shown you those past charts, what I see happening now is that prices either have finished the 5-wave uptrend or are very, very close to finishing it. Having filled BOTH the #2 and the , prices appears to have lost momentum and are gearing up for a corrective move down. How far will the correction go? Right now, it's hard to tell but it might be relatively short as I do expect that this pair has some more upside to it.
MY TRADE PLAN
As of right this moment (as of the time of this posting), I am not yet SHORT on this pair as I am awaiting PA to give me a sell signal. But yes, I am very much looking for a SHORT here.
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have set for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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