But what now? Well, this price action confirms that wave v is underway and that there's more to go. But I will not be too greedy. As I mentioned in previous posts, I do think there is more upside to go on this pair BUT I also believe that there is going to be a MAJOR TREND CHANGE coming soon and that prices are near it's top. So I don't want to be caught buying when that reversal happens.
I am closing 2 more of my remaining positions and will leave 1 open LONG position to catch more pips and setup a trailing stop on it of 35 pips (20% of profit).
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I will know my posts are useful to you. Doing so will encourage me to post more! As always, all constructive comments are welcome. Agree or disagree.
JUST RELEASED! 2018 Guide To The DXY! Want it? Ask me how!
Sign up to mailing list: http://bit.ly/2iNieEY