The trend is still down. Priority is to trade to the downside, of course, C-T can be taken too.

If something is unclear on your TF of choice maybe going one level up or down brings clarity. That's what I do.

I have a standard procedure for trading EW. Here is a sample of how I read the structure before I label the swings. image Any instrument I trade... image

Abeylyn, your perspective on how the patterns unfold is always welcome. We can never be sure how our scenario will play out; the market proves whether our choice is right or wrong. In discretionary trading (based on TA), we may often see the ...

rehmatkhan, sorry for missing your post earlier.

After complex correction wxy a new low is expected. Keep in mind that the market does not always reach our targets.

The best I can do atm b/c we have at least 2 options for how the market can unfold.

At 1.3103 we will have a dilemma if this is the 4th wave or the first leg of a bigger correction to the upside (A or 1). image but if the market takes out 1.3175 (Friday's high) the low might be in place. image

Abeylyn, thanks for the nice words of appreciation. I posted this chart to prove that day traders with the daily goal of 30 pips can achieve similar results as swing traders. I agree with your assessment that 1.30 is an important level to watch as a ...

The chart for day traders.

Here is the daily chart. This year dailyATR (14) never was lower than 62 pips per day. Skill traders should aim for 50% of the range per day, about 30 pips. Some months were frustrating because I only traded during the NY session. It's doable. There ...

the #'s came out +100k better than analysts expected, don't rush with reversal trade until your system tells you so.

Thanks mate. All bases are covered, now we wait for the NFP announcement image

If today's low is in plays.

As always, we can't say that Bailey didn't deliver —one more drop hanging in the air on 30M TF. image Added. 1.3123-.xx26 has to be clear with conviction if GU goes higher. image

Whale, we need some hint to show us GU started to reverse. I would say at least on 15M TF. 1.3054-.xx46 on the daily TFhas to hold for potential reverse and a new high.

After their performance in May, it was a shock to me too. Don't worry, we are not the only people who post Facebook-like messages here.

Even after the ID/NR7 daily bar, the drop is huge. That's the market. image image image

Jade, nice to see you here again.

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