I think BULLISH price action will soon follow as price is well over-extended, but like your attitude of minimal risk...need to leave enough room for price to breath though...
chrystael
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market is never over extended not to keep going its direction. from the pendant, it looks bearish. also, there will be an announcement by 15GMT on USD. so watch these and use your number 6 to do yourself good.
however thanks for commenting my brother
chrystael
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i was in a bearish trade when it kissed the lower trend line i drew and started going down. i did that with a minimal risk and then extended it and then protected it to prevent me from loosing money if worst, i get stopped out on break even.
hope this helps.
jonesesp
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Analysing and anticipation is what its all about...I believe fundys will just move price quicker to its destination...news is always priced in and as you know we never know what the market is going to do next...#happytrading @chrystael ;-)
chrystael
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sorry. from this chart analysis, the ABCD pattern is cumbersome and i may say is not correct. look at your B leg. is it why is should start? no. also for it to be valid you should have at least a 38.2% retracement and best 61.8% retracement from the B leg to terminate as your C leg. again for an ideal ABCD harmonic, your D leg should be within...
this chart is not valid and not accepted. should the market reverses, it is not cause you drew a good chart rather it just does.
please if you are interested in learning harmonic patterns i can assist.
thanks
chrystael
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as im talking to you now, the EURUSD is going down, putting me on more profit. thanks for stopping by and commenting.
im just waiting for the news to act its way but my profits will be protected the more before then.
happy trading @ platinum FX
chrystael
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at this very point of eurusd 1.20130, market is likely to reverse and start a new trend or after a small tip continues in its trend. this is because is it a median fibonacci extension region of 1.618% extenstion. do me a favour and check around that price you will see market flow rejection and some stuffs before the next move is maintained and before the new also. after buy me a drink so next time you believe me...LOL....
never mind. thanks
jonesesp
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Send me a screenshot of what you are referring to here please...'median fibonacci extension region of 1.618% extenstion'
chrystael
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this is the diagram and as you can see, at the 1.618% there is a reversal in market