UPDATE #1: TRADE: EURUSD: SELL@1.12720 Trying to catch a wave 3

FX:EURUSD   Euro / U.S. Dollar
1957 18 24
Just a quick update on this trade before I head to bed (it's 3 AM in China where I am and it's been a long day). There is also a possible Kiss Of Death pattern forming in this pair as well as in the GBPUSD             . These 2 pairs have some correlation so it isn't unusual. But anyway, just something else to be aware of in addition to my trade analysis.

Good night all and GL!
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looks like an ab=cd completion at the demand below which would also break the trendline and i expect the price to go further south if that does happen
Best of luck and thanks for posting as always :)
Your chart looks good to me. I would hope prices go like that. But I'd be careful about relying too much on the AB=CD patterns. They are there for sure but I never base a trade off of those. I use them as extra confirmation. That's all. But also GL to you as well!
+1 Reply
AkashGaur EverythingForex
thankyou and yes i am just trying to work on a system. Will definitely keep that in mind :)
Prince just completed a nice looking head-and-shoulder pattern. Go long friends.
zachlwang zachlwang
I meant to say on the 5 minutes chart.
I don't trade or even look at the 5Min charts......
zachlwang EverythingForex
There is a thing called fractal. Stuff happening one the lower time frame may have implication on what's about to happen on the larger time frame.
I'm surprised you're still up. Time to go to bed my friend. All that pips is not worth your health.
Oh, yes, I am a BIG BELIEVER in fractals! BUT I use them in reverse1 Not from lower TF to a larger TF. I use them from the larger TF to the lower TF. Why? Because higher TF's ALWAYS have more meaning than a lower TF. But I don't have a need to go any lower than 15M TF AND I never take trades lower than 1HR TF. I'm not a scalp trader and prefer longer time frames and BIGGER pips on trades.

I'm NOT saying there is anything wrong with trading and using lower TF's. It's just not my style and not in my trading plan. And yes, It's 3AM for me and just about time for me to rest! Thanks, my friend!
+1 Reply
zachlwang EverythingForex
Good night.
What is Kiss of Death pattern?
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