dojitrader
Short

Harmonics or Gibberish . . . . ?

FX:GBPAUD   British Pound / Australian Dollar
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0
80 4
If we get some sort of rally I think I'll give it a try.
Seems like low risk for large reward.
What do you think, buy ? sell ? stand aside ?
I'm feeling a little like I've asked a great looking gal to dance and then
after 2 minutes of dancing she scolded me for asking so,, I'm not sure if I should try again.
Or, find another great looking gal ~~~~~~~
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This is certainly deflating to see +100 disappear, but, the whole idea behind the trade was in the range of 300/400 pips.
So, to go break even will just have to be the result for now. Thinking of reentry --- the 2 hr chart has a bit of a shooting star ---
I'm thinking I'll wait and see if the 4hr chart also produces a shooting star to enter or not. Both show RSI divergence which
was not present at the first entry. Perhaps the answer the my question is "gibberish" !
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Damn i wish i didn't miss this one.

Its a bearish shark and bearish butterfly completing at the same location...

200+ pips on just the 0.382 retracement... what a shame :(
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Still not sure if the question of harmonics or gibberish has been answered, but,
I grabbed a slightly higher entry than the chart shows and went back to the
football games "Go SeaHawks" and at one point this has been around
+100 pips or so. Thus, I'm moving the stops to break even +3 as I do not like the
similar look to this just before the last blast higher. Maybe it's just the USA holiday.
Giving it lots of room to slop around since the profit potential is huge. Just don't
see the benefit of giving negative pips.
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