It broke zone - so im waiting.
10.55 Shorts on GBP/USD 1.58270 SL 1.58330
Risky position.
11:25 BE
12:20 I will start to defend short term position closer to market price.
12:35
SL 1.587830 - short term
SL 1.587945 - long term
News in 25 minutes.
12:40 SL on short term +43pips with 7pips SL.
12:52 Long term on SL. +32pips. I dont want to risk before news.
13:00 News exacly like forecasts.
Hi there,
ReplyDeleteBeen watching your trades the last couple of days, and it looks really good. I especially like the short on GBP/USD at 1.58270 you made today. That prediction/trade was right on the top! Well done sir!
I noticed on your GBP/USD chart, however, that you marked down the 3 wave in a position that would make it not the longest wave out of 5 motive/initial waves. I don't know a lot about Elliott waves, but I was sure that the 3 wave is suppost to be the largest.
Now I've just started to read Robert Miners 'High Probability Trading Strategies' (great read by the way!), but I haven't reached the Elliott wave section. Does he say anything different about that rule?
Hello.
ReplyDeleteThanks for comment.
First of all about Elliot waves theory - its suppose not to be the shortest one of 5. Its often the largest (and often about 1,618 of wave 1) but its not the "golden" rule.
Sometimes i see that its not correct with theory (like bottom of wave 4 shoould be higher/lower than top of 1 - but not on laverage markets and we are here) but i have to search for some match.
In Miners book there is not much about wave theory. For this You should go to Alfred. J. Frost and Robert. R. Prechter book "Elliot Waves Theory" - title can be little different i dont have English version.
Feel free to ask more.