I would recommend NOT using the Elliott Wave indicator in this Great Charting Package.
It is very flawed in it's labeling.
Ex. in this chart the blue (1) and (2) first and second wave - center of the chart-
is also labeled ((III)) and ((iv)) which, of course, in EW Can Not Be.
Wishing you lots of pips in your pocket for 2015 !!!!!
After that the position is risk-free and when the market goes is less importat, predict the market is not possibile for me, i only place a general target but that target is not important. Even if is not filled the position will be proffitable any way.
If i entered a good price a simple leave open the position for as much as time is possible..
I am Ready to keep open the position even for months if necessary!
I have a couple of sell euraud opened last year.. there are still open :-)
the Deposit facility is − 0.20 %
Main refinancing operations (fixed rate) is 0.05 %
It is easy money.. the interest rate is so low the long term you only need to wait....
with such low rate it is only a matter of time before the euro crashes even more.