Slight,
I did not enter on the fractal on the 3rd just based on having seen the chart on a rise from the 2 weeks prior. I saw the candle shape and movement with an very low close compared to the other prior weeks candles and decided to see what happened for a few days. Then the fractal on the 7th formed and I decided there. Basically I felt I missed out on the move from the fractal on the 20th of June so I waited. I also still thought that we were in, and possibly are, an extended 4th wave. I am by no means an expert but from all the EW stuff I have read, I am trying to stay away from the 4th wave. I don't know that we are definitely in wave 5 yet but feel that it has to hit sometime here in the near future. That is also why I entered on the 7th fractal because it was down a bit and I wanted to try and catch the move up. If I was wrong or am wrong in the long run, I have made some pips on it and will wait for the next move up looking for the wave 5. Yes, that puts me in contradiction to what I said above about the 4th wave, but I am getting a bit impatient. That can be bad as we all know. I am not really willing to bet the farm yet and not sure about the end of wave 4 or not. I will only place trades in one direction until a trend is really formed and the 1.60 level is really broken. Hope that helps.
Daerus,
I made a mistake and did not wait for a close of today’s candle for the fractal to actually be formed. So I was entering based on a fractal that was not an actual fractal. It was pre-mature. A mistake in reality but it has worked out.
Any other trades or ideas you have at this point?
Looking forward to more words and learning.
RCWSO
I did not enter on the fractal on the 3rd just based on having seen the chart on a rise from the 2 weeks prior. I saw the candle shape and movement with an very low close compared to the other prior weeks candles and decided to see what happened for a few days. Then the fractal on the 7th formed and I decided there. Basically I felt I missed out on the move from the fractal on the 20th of June so I waited. I also still thought that we were in, and possibly are, an extended 4th wave. I am by no means an expert but from all the EW stuff I have read, I am trying to stay away from the 4th wave. I don't know that we are definitely in wave 5 yet but feel that it has to hit sometime here in the near future. That is also why I entered on the 7th fractal because it was down a bit and I wanted to try and catch the move up. If I was wrong or am wrong in the long run, I have made some pips on it and will wait for the next move up looking for the wave 5. Yes, that puts me in contradiction to what I said above about the 4th wave, but I am getting a bit impatient. That can be bad as we all know. I am not really willing to bet the farm yet and not sure about the end of wave 4 or not. I will only place trades in one direction until a trend is really formed and the 1.60 level is really broken. Hope that helps.
Daerus,
I made a mistake and did not wait for a close of today’s candle for the fractal to actually be formed. So I was entering based on a fractal that was not an actual fractal. It was pre-mature. A mistake in reality but it has worked out.
Any other trades or ideas you have at this point?
Looking forward to more words and learning.
RCWSO