yesterday, right after the fed announcement, the price went up to our selling area
then today we see the price seems smoothly fall as we expected.
for those who read my post yesterday will surely found a H1bearish engulfing and would be happy with the result
but now, our concern goes to the pattern of the correction. it's for sure an ABC (3waves) but it's obviously not a zigzag (zigzag will form a channel). then i suspect it would be another long correction. a diagonal.
if i think so, it is the right decision to take some profit, and i think to wait for the price to goes up, wait for another confirmation to sell position. and if our prediction is true, it would have 5 ABC as drawn at the chart.
how about you? share your thought in the comment box below :)
good luck on your trade
then today we see the price seems smoothly fall as we expected.
for those who read my post yesterday will surely found a H1bearish engulfing and would be happy with the result
but now, our concern goes to the pattern of the correction. it's for sure an ABC (3waves) but it's obviously not a zigzag (zigzag will form a channel). then i suspect it would be another long correction. a diagonal.
if i think so, it is the right decision to take some profit, and i think to wait for the price to goes up, wait for another confirmation to sell position. and if our prediction is true, it would have 5 ABC as drawn at the chart.
how about you? share your thought in the comment box below :)
good luck on your trade
At least we're not in a buying position. If there are still remaining sell lots, just hold onto them until there's a reversal pattern
or you can follow signals (look at my previous post).