Fortified with the monthly analysis, the daily view suggests that we have passed a major top. My long-term target being somewhere around 0.7, I expect to see MLMLH hit first. This pair seems to a perfect candidate for my 1000x project. I will update the post as I enter the trade.
I would also like to tender my thanks to DanV for clearing this pair's wave picture in the idea linked below.
I would also like to tender my thanks to DanV for clearing this pair's wave picture in the idea linked below.
Trade active:
Let's first trade the correction before the big move. I'm on the short side.
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Details here: project1000x.blog.co.../17/trial-2-trade-2/
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Move S/L to B/E.
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Stopped out at B/E. Re-entry @ 0.993
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The updated hourly count is as follows:
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Set T/P to 0.986 (flexible)
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Move S/L to B/E.
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Stopped at B/E for the second time. Watching the price action.
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The updated pitchfork and the hourly wave count:
It seems shorting the correction didn't work because the correction is being a triangle. We might trade the 'e' of the rectangle if there is a good chance, though. Also notice the change in the pitchfork. The new one is constructed with the Action-Reaction principle, and seems to describe the market better.
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Half-sized re-entry at 0.991. I am waiting for the news to enter with the other half.
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Second half-sized re-entry at 0.99603
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The second position has been closed at B/E.
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The first position is closed at 0.9935. Waiting for a full re-entry point.
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Now I reversed my order and entered long with half-size.
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The market immediately reacted and now moving my S/L to B/E, which is at 0.99072 including the commission.
Trade active:
Finally at 0.935, we're on the short side.
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I forgot updating here. I was stopped out again at B/E. Now on the short side again at 0.996. Let's hope this will be long lived.
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Move S/L to overall B/E.
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Stopped out at B/E. Re-entry at 0.99803. Non-farm payrolls announcement taken advantage of.
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Wow I'm stopped out again. Really didn't think that we'll see this level one more time. I am waiting now to see how the trend develops.
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Shorted at 1.00 with a small size, just not to miss the big fish.
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Adding on.
