Your MA looks different from mine. Is that a 55ma which EU has touched?
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DislikedI'm still in the trade. I believe it is one of the worst and best trades I have had for a while. First the entry was pretty bad. I was planning on a strong pull back b/c of the rule of alternation. Basically this rule is from Elliott wave principles. It basically states that corrections tend to be different. In this case the blue rectangle correction was a short period of time and did not pull back that far. Consequently the second will pull back much more and take more time. ( Like geniusztc noted this pull back was in a nice channel.)...Ignored
DislikedTime frame 4H and TL break and retest setup plus Trend Continuation signal on MACD.
Short Entry 1.4490, SL 60 pips and TP 60 pips just above the 200SMA.
So far the PA is moving in my direction.
3 trades since begining of this week. 1st EU was BE, 2nd EJ was full loss (have to work how to reduce the losses), and 3rd EU moving in right direction.
Cheers
Novice198
EDIT :- Out on BE +1. In hind sight I should have closed 1/2 position at plus 40 pips when moving the SL to BE+ 1
Also on the 1H TF the 365EMA acted as a support. Therefore, should we...Ignored
DislikedHi Phillip,
Thanks for the review of the above trade. However, I cannot download the attached zip file. I think there is no problem on my side as I can download other zip files.
Thanks
novice198
ps : managed to download the file.Ignored