Analyzing is my work, trading is following my rules. I trade ideal scenario's or let it go. In an average week I only need 3 trades a week for 10% return based on risk/reward, so waiting for ideal scenario's is what I do.
Both EURGBP and GBPCHF are presenting possible ideal scenario's. If not I adjust and look for the next one. Keep an eye on these structures for reversals but be patient.
Safe trades!
Both EURGBP and GBPCHF are presenting possible ideal scenario's. If not I adjust and look for the next one. Keep an eye on these structures for reversals but be patient.
Safe trades!
Note
The diagonal wave count has been invalidated. I don't like to adjust the diagonal wave count just yet because the probability is too low for me to trade it. I therefore need more clues before trading these pairs. Either the buy scenario as described or I wait for an acceleration lower and a bear flag consolidation pattern for a sell.Note
EURGBPNote
I'm short from 15min flag, will see what pair (eurgbp or gbpchf) presents the best continuation opportunity to add another position.Note
First target got hit after the minor consolidation we were looking for.Note
Both trades represent minimum targets but there might be more room left so I adjusted stop losses.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.