Stopped out on this trade for a -68 pip loss. What maybe happening right now is that it is making a wave 3 extension or ABCzigzag 4 with (b) dip. Will be watching to look for another good LONG entry. I am still looking at this as a wave 4 correction. But will be re-analyzing it to see. For now, on the sides.
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I always re-analyze charts over the weekend from scratch. I don't think NFP has "messed things up" but rather has setup some very nice trading opportunities. But what are they is what must be deduced. Just be aware that I don't post everything here and post more to my facebook group to see. But even there, I don't post everything. Only my members get all. Thanks! Oh, and I don't trade the EURGBP although my members can request to have me analyze it.
was certainly an interesting juncture with the DX right at a key level, at least there was only little risk involved. Will look forward to your views on Euro, it's a hard call between an extended B wave and straight impulsive imo... The Aussie and JPY were much easier trades as they hadn't extended before NFP's. Thanks EF appreciating your efforts
I have it as wave v of c of B (target range between 1.0868 equality measure down to 1.0810 with risk just under 1.08). Assuming the 1.08 level holds then looking for a couple of months up in wave C of 2, with targets between 1.20-1.25. DX is in similarly tight setup with reversals possible as it completes either wave b or 2 of C with 98.50 max risk. Reasonable R/R imo...anyways, just some thoughts.
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