Trading with technical analysis: according to the Elliot wave, the current trend is the corrective phrase and it's going to finish the last wave "C", so that, it is possible to go Long to continue the Elliot wave "1,2,3,4,5"
Trading with news : the usd index is still in progress to be weaker.
I think the entire abc corrective waves you drawn is actually is just wave a alone (wave a and c are generally a 5 sub waves and wave b is zigzag), plus the eu is so weak currently. I think the corrective wave will be deep (to 0.618 level of the entire impulse wave) which is around 1.46 area. Just my observation, I do not use or trade Elliott Wave.
huytrancmc
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@ChrisHoang, Thanks for your comment! I think Elliot wave is quite complicate to make it right, I am still training this object. What is your suggest to trade better?
ChrisHoang
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@huytrancmc, Every one is different, I think you need to find the method that you can be comfortable with. You don't have to be right all the time to make money in trading. You can still make decent money even if your picks are 50/50, as long as your wins are bigger than your losses. I am a Trend Follower, my way of trading is very simple, trade with the trend always but use correction (counter trend movements) for low risk entry. Good trends do not come very often so I do not trade all the time. Most of the time, I just watch and see what others ideas for fun, lol.