Possible Shorts on the EURUSD as per PLAN. All Long Positions were closed. Risking 5% of the account because of NFP around the corner. Will adjust the stops accordingly.
man, it has just made a bullish break on a daily. tgt 1,14 then 1,20. why do u want to short it?
tradeit
⋅
Let me start off by saying that i mean this is the most critically constructive way possible. That being said, according to the Elliot Wave Principle, your understanding of corrections is off a bit. You ARE correct in analyzing that the EUR is in a corrective structure but a B leg that terminates above the end of wave A is a type of correction called an expanding flat and is indicative of strong buying pressure. Therefore, by your analysis, your positions should be flipped upside down. Don't take my word for it, take Elliots. Cheers dude and good luck.
MsaqibC
⋅
Thank you for your input. When i marked this several weeks back i expected the B wave to go high, but not this high. Yes the price has shaped into an expanded flat. Hence i moved my stoploss much higher than labeled. I am very much short as i believe that the supercycle has printed a b of B wave and we have yet to see a Down Move either in Three waves of Five waves. I expect a Five wave downwords now as it would complete the SuperCycle of B wave.
Overall positions were reduced accommodating a total loss factor of 2%.
I will post my views in a couple of days... presently taking a little break in Seychelles ... :)
cayman
⋅
Kumowizard what is your prediction?
cayman
⋅
I hope predictions come true :-)
so far - it is OK