which also perfectly coincide with minor 61,8 D point of
a large going back to july 2013 . Will price bounce
from this level, which one could expect, for another leg down
to complete the large ABCD or will it pass through directly.
The extended 1,618 D point of is also in
confluence with the completion of large ABCD and Monthly
Also, if price moves higher from here, this could also be the early completion of the larger ABCD. How to know
if 61,8 extension is the completion? Well, if 0,9255 , the larger C point, is taken out, it will tell us that reversal
is at hand.
the fact that price has held above that 0,87 handle for 4 days. Impressive pip to pip touch of
the smaller d-target. Very good Risk Reward right here. Trading above weekly pp today on and off
made me go in, not full sized yet.
with extra ordinary confluence, notice also pip to pip touch of smaller d-point, and held above
some days now, may point to a bounce. This is the first time a good buy signal occurs on UsdChf
for quite a while. Be mindful of that, still, More of the Same is also a good bet, considering low
volatiliy and expected volatilty ahead. Good luck.
reverse from the 61,8 CD level. In this case coincinding with another completed ABCD. Still, as you say, until a reversal
or signs of it appear, long term shorting is the main strategy. I'd like to see some target of these two patterns achieved
before shorting, that is the main and only point. look at my intraday chart posted yday for levels which also could give you
good levels to place a short stop if you short. Also, USDOLLAR index looking contructive at this point, and UsdCad
eyeing higher (went long yesterday). Not trading EurUsd at this point, since a soft reaction at the current confluence
resistance around 1,3750. So it's a big picture weighed in too.
for many years. Still, I think you should keep trading but with practice account or with micro lots, learn the
basics of money management. Regarding funtamentals which they teach in school, much of that can be
appreciated in less academic forms. Nothing wrong with education but many succesfull persons never had
the graduation and so forth. The technical approach,as a young, you will learn better than when you
get older so if this is what you want to do or feel insipred to master, I suggest that you keep working with it,
and grasp all aspects of it. Trading is mainly about discipline which is a life long task to manage and get better