Just a quick thought on GU.
Looks like we had a wave 3 move in US session, and perhaps wave 4 now in Asia.
Lets see if London executes the wave 5 or not.
Considering NFP news coming, any trades are risky right now.
I am only looking for 10-20 pip scalps for rest of this week.
After NFP and weekend, we might have different outlook of the USD (but I doubt it).
Background:
This post is an update of my GU adventure which started with this plan looking for shorts
After the big drop (which I caught most of) the next traps were set by this plan:
Then I fined tuned for one last round of shorts per this plan
As the down move looked to be ending, I plotted this path for short re-entries
I did take a bunch of short scalps off that last plan, and still have one short position riding a trailing stop.
So that brings me to the current situation, expecting bounce soon which will probably take out my trailing stop, and then I will look at my red zone for possible resumption of downtrend.
.
.
Again NFP could destroy all counts/fibs/stop losses. ... Be CAREFUL
.
.
Looks like we had a wave 3 move in US session, and perhaps wave 4 now in Asia.
Lets see if London executes the wave 5 or not.
Considering NFP news coming, any trades are risky right now.
I am only looking for 10-20 pip scalps for rest of this week.
After NFP and weekend, we might have different outlook of the USD (but I doubt it).
Background:
This post is an update of my GU adventure which started with this plan looking for shorts
After the big drop (which I caught most of) the next traps were set by this plan:
Then I fined tuned for one last round of shorts per this plan
As the down move looked to be ending, I plotted this path for short re-entries
So that brings me to the current situation, expecting bounce soon which will probably take out my trailing stop, and then I will look at my red zone for possible resumption of downtrend.
.
.
Again NFP could destroy all counts/fibs/stop losses. ... Be CAREFUL
.
.
Note
GU bulls trying to make another stand at this long term fib zone: Those grey zones were calculated and posted on June 13, 2018
the Golden Ratio is my Religion
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the Trading View is my Nation
the Moderator Tag is my Flag
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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.
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
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.