UPDATE #2: UPDATING 2 LONG trades: bagging some pips (+494 pips)

FX:AUDUSD   Australian Dollar/U.S. Dollar
791 1 19
I am posting an updated possible wave count here and I will be taking 50% of each of the trades off here and booking those +494 pips. I will let the other 50% of each trade continue to ride. Why am I doing this? Because in this wave ( iii             ) of 3 up, there was a pretty shallow wave ii of 3. Therefore, I am expecting a deeper wave (iv) here and want to go ahead and bag some pips profit. There is of course always the chance that I am completely wrong in my wave count and prices could take a dive here. So it's always good to go ahead and bag pips and put them in the bank after having such a nice run.

But if my wave count turns out to be correct, then I'll be looking to be a buyer again at the end of this upcoming wave (iv) retracement.

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 used 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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a year ago
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