Update: I cancel this trade, I prefer to wait for more confirmation for now.
If wave count is correct, it might be the end of an ABC correction, at the 50 percent Fibonacci of the overall bullish wave from 1178 to 1392 at 1285 level.As price forms a ending diagonal. Initial reaction was rejection, and thus am taking a long shot with a tight stop loss.
Note: this is a counter-momentum risky trade.
***Correction: Ending Diagonal not leading, excuse me was in a rush.
Good Luck, join me at :
twitter.com/thefxchannel
thefxchannel.com
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Still Active Trades:
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)
If wave count is correct, it might be the end of an ABC correction, at the 50 percent Fibonacci of the overall bullish wave from 1178 to 1392 at 1285 level.As price forms a ending diagonal. Initial reaction was rejection, and thus am taking a long shot with a tight stop loss.
Note: this is a counter-momentum risky trade.
***Correction: Ending Diagonal not leading, excuse me was in a rush.
Good Luck, join me at :
twitter.com/thefxchannel
thefxchannel.com
-------------------------------------------------------
Still Active Trades:
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)