good morning, what a nice rally done by EU this morning.
potential short coming up when at break on 1.3384 occur.
according to 4 hours time frame, 3 waves correction (a-b-c) have not complete.
maybe there is a bounce back at 1.3384 before another rally down for wave c.
enjoy your day and god bless.
for short term, the pair will probably go for correction. from the chart patten, a double top was has form. a break on 1.3384 will eventually reveal a stronger wave c which i think it might be resting around 50% fibo.
bearish divergence reveal.
wait for the wave a to form before consider another jump for short.
the alternate count valid if the price didn't break 1.3435.
on the other hand, if the price break 1.3435, it will bring the entire wave count to an end of "subminute" wave v.
hi, good day, the from my point of view, the pair going to go for the next level of fibo(60%) at 1.3443 to complete the "subminuette" wave iii.
not advice to go long at this moment. wait for the correction wave 3 to catch some more fishes.
have a nice trading day and god bless.
looks nice on bullish divergence. the reversal of minor wave 5 almost complete.
i get this article from a private forum. i glad to share it here as it provide great tips for beginner and old timer (otai) trader alike.
Cutting your losses and letting your profits run is one of the oldest axioms in trading, yet many traders insist on doing just the opposite.
Believe it or not, some traders are more afraid of being wrong then they are of losing money. When these traders find themselves in a losing position, they tend to stick with the losing trade a little longer in the hopes that the market will turn around and eventually prove them right
However, because futures are such a highly leveraged investment, it is difficult for the small trader to stay with the losing position for very long without inflicting serious damage on their account.
Similarly many of these traders are so anxious to be "right" that when the market shows them a small profit, they take profits too early without realizing the full potential of the trade. While there is nothing wrong with taking a profit, the fact remains that if your profits do not offset your losses, you will eventually be unable to continue to trade.
So what should a trader do?
1. You need to realize that you will not be correct all of the time. It is important to realize that you will incur losses as you will sometimes be on the wrong side of a trade. The important thing is to realize WHEN you are wrong and exit the market quickly
Accepting small losses is the key to cash preservation and trading survival. Everybody is wrong sometime. It is a fact of life. However, by being wrong that we eventually get to right.
2. Make sure that you only take the trades with the best risk/reward ratio. This will ensure that when the trade does work out as planned you will be earning decent profits.
3. Have patience. Too many traders are too anxious to trade. They got into markets before they are ready hoping that the trade will work out. They think that the road to success is through trading a lot, but it is not.
The road to trading success is by making sure you take only the best trades with the highest probability of working out, and maximizing the profit from each trade.
4. Keep a trading journal. It is difficult to learn from your past mistakes if you don't remember them. Likewise it is difficult to repeat your success if you don;t remember them either. Making notes of things you observe in the market will provide you with a wealth of information that you could not obtain elsewhere.
5. Plan your trade. Having a trading plan may not ensure your success as a trader, but trading without a plan will almost guarantee a failure.
hai good day. here is another forecast.
if the current pattern is flat, then the next move is suppose to be a 5 wave down. supposedly if would touch the fibo 60% (1.3491)
wait for a retracement and then go for long. it would earn you better.
im here to correct my labeling from which i uploaded yesterday. i came out with a newer version wave degree labeling. however the correction does not change much of the actual movement of the impulsive wave.
as predicted. now i think its the time for wave iv correction. hopefully it will retrace at either one of the fibo. 50% or 61%.
happy trading.
its been so long for the EU to go side way. so how bout going subway now..haha kidding.the pair shown some positive movement for impulsive wave.
still looking for the completion of wave iii.
ok, here i update 2 different time frame for the pair. daily shown a zigzag going on..but we dont know wether the wave c has completed or not.
from the view of hourly chart, another x forming follow by triangle and flat. here, we are expecting the starting movement of impulsive waves. hopefully we can see positive result which lead us to wave v.
anyway, have a great monday. god bless!
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