I m looking to buy to sell the pair as per my EW count. I may be right or wrong but if it is what I think it is, then it will pay a huge dividend for the risk I m going to take. Always remember in forex, risk/trade management is the name of the game. So if I m wrong I will know in first buy itself & I will lose 1R, but if I m right then in my first buy I will score 2+ R & then will go for sell position with house money (win from recent buy) & risk 1R & try to win 5+R. Let me know if you agree or you have any alternative plan in a comment section.
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P.S. Look for my ECAD idea attached, the first attempt has failed at 61.8% retracement but got short at 78.6% area. Wait for pull back & enter shorts according to your trade plan, if interested.
Hi, EW is very subjective analysis & everyone have different counts & criteria for counts. I have picked up few things from here & there, mainly from TV. I m not practicing EW completely, it only consist of 10% of my analysis. I mainly trade classical patterns, like flags, pennants, H&S etc.
Future_Capital_Ltd
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long now??
FxSaint
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No! Lets wait & see more price action.
Future_Capital_Ltd
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I think it is a drop (sorry for my bad english)
FxSaint
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Hi, EW is very subjective analysis & everyone have different counts & criteria for counts. This count doesn't qualify my way of doing EW but if this way works for you then good.