Teekid

EURGBP Wave-5 finished

FX:EURGBP   Euro Fx/British Pound
Will be seeing an ABC correction...
But the daily pattern,still in bearish .
Trade active: price 1.272ex-ret.0.786In-ret combination. w3range=wave5 Double ABCD pattern..time and price cardinal ratios:0.48574.

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What should we do?
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Teekid PRO riskmode
I closded all my short positions.. .and I am trying to cath some bullish move now....also I have lost of <Sell Stop Orders Arrary> below my stop line..goody luck.
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riskmode Teekid
What are you looking for to catch a bullish move?
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Teekid PRO riskmode
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this is just a possibility.
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riskmode Teekid
Yeah, but where exactly do you plan on entering a trade in that abc sequence?
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Teekid PRO riskmode
enter when Potential B-wave finihsed should be safe..It depends....everyone should have his own trading plan.
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riskmode Teekid
Ok, and how exactly are you determining when the B wave finishes? "everyone should have his own trading plan" Yes, this is what I'm getting at. What is your trading plan?
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Teekid PRO riskmode
wave-B.normally have a 50%-78.6% retracment. but Can't not exceed 100% . Remember all wave count is potential..not gruaranteed.
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riskmode Teekid
So once you see 5 waves up for A you're going to put a buy limit at the 50% retracement of A with a stop below A?
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Teekid PRO riskmode
It depends..sometimes entry retracment.sometimes entry breakout... or entry combine these two methods.
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riskmode Teekid
It depends on what?
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Teekid PRO riskmode
hard to say in a word or two..denpens on your trading sytle,your money management.risk preference,technical analysis..not jsut a solid fib ratio..

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Here is what I am planning to do ..now the market is still in bearish channle..if the market go up and breakout the simple dashed trendline a lot .after retrament.i am gonna put some Buy Limit ORDERS in the green zone. use stoploss...we are in position Wave3 or Wave 5 Now.
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riskmode Teekid
It's going to be a long wait for that to happen. What will you do in the meantime?
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Teekid PRO riskmode
wathing online moveis now. ...tomorrow we have Non Farm Payrools.should be a big opportunity.
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he does not have a true gameplan @riskmode
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riskmode R3negadeTrader
lol why do you say that?
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0.618 retracement of the B corrective wave - can be a nice entry -- BUY
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Abosultly amazing -
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