This is a follow up to my main short entries which started with this Idea:
Once the down move started, I was taking profits and adding shorts per this plan:
I am now looking for entries to add more shorts.
Once the down move started, I was taking profits and adding shorts per this plan:
I am now looking for entries to add more shorts.
Komen:
Second target hit with ease. will it bounce?
Komen:
GU bulls look to be holding mid-support for now, in UK session. I suspend US will buy GBP, EUR, and AUD soon. So am expecting a bounce here, which will give me more data to analyze.
Komen:
GU hit the second possible wave (5) and bounced as expected.
Am starting to add shorts again
Am starting to add shorts again
Komen:
a close up of price action around my zones, good to see it recognizing them
Komen:
Shots added here.
Komen:
GU: Getting back to the main chart, we nearly hit the third target
I DO think the last target is still possible. This new fib shows a -0.236 extension (a very common overshoot of any wave) so that extension may well be hit.
However, the risk of a bounce is increasing, while the odds of collecting those last few pips are decreasing. So I closed 80% of my shorts during Asia session, and will re-evaluate once London starts.
I DO think the last target is still possible. This new fib shows a -0.236 extension (a very common overshoot of any wave) so that extension may well be hit.
However, the risk of a bounce is increasing, while the odds of collecting those last few pips are decreasing. So I closed 80% of my shorts during Asia session, and will re-evaluate once London starts.
Komen:
GU: this EW count and the two fibs say the next target is still quite possible. Lets see what London thinks in a couple of hours.
Komen:
I have posted a New plan for possible short re-entry zones, here:
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
I dont think this is the ''bottom'', but lets see