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 ABC zigzag 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.
Losing trades is no big deal. Losses don't worry me. They bother me but don't worry me. Everyone loses trades. It's what you do with that losing trade that makes the difference. You can be sure that I'll be learning something from this trade and gaining insight into the next one.
jvadian
⋅
Hi i am trying to follow your link but unable to locate you in FB. How do i follow your thread, i like the way you logically think and execute.
As per your wave count, can we say that we are now in wave 5? in other words the (a) wave in the chart was wave4?
EverythingForex
⋅
It is possible but I will re-analyze after the NFP
peterB
⋅
When will you be re-analyzing the charts and will it be AU/US, EU/GB and NZ/US as non farm has messed things up.
EverythingForex
⋅
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.
TTCSteve
⋅
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