I am updating this trade to reflect a possible ALTERNATE wave count. Here is the chart with my original wave count:
The main chart now shows that I moved the ending of wave 4 to the last low @0.71206. I've now labeled that decline from the #1 as an abc wave 4. That would mean that wave 5 up is now starting. I have labeled that wave 5 to possibly end at the completion of the POTENTIAL #2 and possibly the end of wave (4). And then to see another move down in a wave (5).
MY TRADE PLAN
At this time I am STILL SHORT. I have a trailing stop on my SHORT order right now that would stop out at 0.71506. If my stops get taken out, then I will WAIT for confirming price action to get LONG for the ride up to #2.
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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Year-to-date Profits: +5,794 pips.
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