I will publish my Entry/Stoploss/Profit targets later in comments.
Happy Investing.. :)
Remember the definition of Double three combo in Elliott Wave Principle?
"A double three combination is a sideways corrective pattern labeled W-X-Y.
Wave-W can form a ZigZag or a Flat but is usually a Flat
Wave-X can form any corrective structure but is usually a ZigZag
If wave-W is a ZigZag then wave-Y can form a Flat or a Triangle, if wave-W is a Flat then wave-Y can form a ZigZag, Flat or a Triangle. In any case, wave-Y is often a Triangle."
So wave-Y can also form a Flat where wave-c can form ending diagonal as mentioned in below chart. Keep in mind these possibilities. Happy investing...
Good luck and happy trades...
Happy investing :)
Always use trailing Stops. Good luck
It looks like we have got completed wave-i & ii of higher degree wave-3. Although wave-ii retraced only 38.2% of wave-i but it looks like completed and I am Shorting some more.
Conservative entry would be below the gray channel bottom line with SL above termination point of recent wave-ii.
Good luck and happy trades :)
From previous entry, it first went much lower and then rallied to make it double zigzag. Fortunately SL didnt hit and now going all the way down to 1H time frame, it looks like we have another shorting opportunity with a very small version of zigzag. I am shorting some more with the SL above the end of wave-ii (in purple).
Guys, just to show you a warning sign of losing few pips from our bag, please keep in mind this alternate scene where the completion of wave-2 may happen a little above our current SL. Unfortunately, in this alternative scenario we dont have any defined SL near our entries but its very probable and makes sense because someone has to hunt the SL orders of traders above the latest high of 0.75071 in this volatile week.
Good luck !
Good luck :)
Congratulations on first Profit target reached with total of 2253 pips up in trading account :). 600 pips from the first position alone which we entered at the top. I am realizing profits for about 1500 pips and moving the Stop-Loss order in about 200 pips profit for the rest of the positions. You can see my live trades here: http://prntscr.com/dn1xuq
Please don't misinterpret here. I am not selling any course or membership program. I just want to show you that this is really possible provided the Right Education + Experience + Pro Trader's traits like Money Management and Patience etc. Please review my current thoughts about AUSSIE in below chart!
Happy holidays to all... :)
AUDUSD has been consolidating for a long period and still not over yet. Although we earned successfully some 1500 pips from the recent down move (three waves down from 8-Nov till 24-Dec) but it is not unfolding in 5 waves down as expected but making a more complex correction before taking a clear trend direction.
According to my EW analysis, Aussie is unfolding in bigger W (flat)-X-Y (Triangle or Flat) as mentioned below:
Aussie is moving down in wave-b as per our forecast. Please have a look at my 1H view. Good luck
Thanks to Johnm600 for reminding me to update this pair at this critical juncture.
Very good luck :)
IMHO, we should wait for Aussie to break below the wave-X to give a conservative short entry or otherwise give us enough bullish impulsive price action to prove bearish bias wrong.
I think it may have gone past the 1-2, i-ii situation, and wondering what you think now ?