EverythingForex

TRADE UPDATE: EURUSD: SELL@1.09380 Setting Up For BIg Move +252

FX:EURUSD   Euro Fx/U.S. Dollar
1613 2 26
In my recent post yesterday, "(O) FULL ANALYSIS: EURUSD: Getting Set For Yet ANOTHER Big Move!", I mentioned that I was already short on this pair. Here's the chart:
(O) FULL ANALYSIS: EURUSD: Getting Set For Yet ANOTHER Big Move!

Although I didn't post the actual trade since this was a trade I had given to my members, and it has already hit it's TP1 for a +126*2 pip gain (+252 pips) since I have closed 50% of my positions when it hit the TP1.

The point I'm making is not that I made pips and that my predictions were correct. The point is that because prices have moved according to my prediction, it leads me to believe that my wave count is correct. More so now that prices bounced right off that bottom TL of that barrier triangle that is forming. I am expecting that prices will now head back up to the descending TL and if that holds, then prices will descend back down in a leg E and should break through that lower TL and head on down. At least that is what I am seeing should happen.

This does not mean I am right and the market will act as it will regardless of what I say it will do.

MY TRADE PLAN
At the time of this post, I am still holding the other 50% of my trade positions SHORT. However, that may change and I may close those positions should I see bullish PA. I'll look for another SHORT opportunity when prices reach that upper TL and completes leg E.
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*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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+2 Reply
arif_awan
10 months ago
great analysis, really complicated though
Reply
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