dojitrader
Short

AB=CD @ Primary or Bat Pattern @ Secondary Resistance Short ???

FX:EURGBP   Euro / British Pound
176 2 8
1st short set up is the ab=cd that is not particularly valid with only
a .558 ratio of B to C - then - the measured move @ .7240
3rd set up is the Bat around .7270 that is also the 1.618 fib ext of A to B.
This offers the best possibility for a market reaction and the lowest risk
with stops just above X. Elliottwave also offers the look of a 3 wave
zig zag . With 3 opportunities to short I'm really hoping
the candlesticks will offer the bright light of an enticing trigger and
smart stops.
I like that a combination of analyses are pointing to .7230-.7270 area.

The Elliott Wave count wave v of C possibly peaked at .7248
Reply
Yes, it also looks to me like price action has completed a clear 5-3-5 zig zag
and also has A = C for a nicely harmonic entry area. However, I'll wait until
after the FOMC should there be a knee jerk reaction.
Combination of analyses is also good for my confidence, if not my win percentage.
40 - 60% is still the norm no matter how many ideas point to the same area, but,
with a reward or 2 or more to 1 of risk will always put pips in my pocket -----
As long as I consistently enter ALL trades. That is my weakness ~~~~
second guessing myself.
Wishing you loads of pips in YOUR pocket too !!!!!!!
+1 Reply
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