Rather baffelling situation here - to me! Is it that huge ABC correction or there would be something more complex one ? Or we are already in a new I --II --III--IV--V? If ABC there is a long wait and long term shoot BUY at 0.618FIB approximately. Also if this week price heads south may be there is a possibility for a good ride down on wave C.
If any of the other 2 options , i believe development would be in the comming week. The opportunity here is to take a BUY if price goes abouve the yellow doted line and holds abouve 119/it is a round number/ and aim for100 pips higher with SL @ 3-4 pips below 118.50. An agresive and risky trade. I would recommend moving SL @ break even as soon as possible. With counting Elliot's wave one never knows right or wrong till proven so. .:) Happy trading!
Komentarz
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Will post another setup whenever i consider such to exists. Now it seems at least half of the year will have general direction down.
I believe the market invalidated my idea. Good it did not give the entry price and move south afterwards...
This idea is closed now!
farooq2sahi
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ITS VERY CLOSE TO MONTLY RESISTANCE WHICH IS 100 PIPS ABOVE FROM NOW. IT WILL HIT FIRST THERE HTEN WILL BE DAILY RETRACEMENT TO .5 OR MAY BE NEW TREND.....SO DEFO LONG FOR NOW.....CHEERS
This idea is closed now!