The potential triangle I anticipated in the previous week seem to have been invalidated, which is why it is important for projection to be confirmed by the market before we jump on with our money.
Elliott Wave approach provides a very well defined entries into trades based on the confirmed levels and patterns by the market.
So, how do I proceed from the situation, the overall projection of the direction is still valid, but when is the right time to invest my money?
The expectation of wave C to be more deeper to complete wave 2 is still valid and I wait for the price to reach the right levels before entry.
Patience all the way, taking one winning trade a week is better than taking 5 trades and win only one. A trade missed is better than a trade lost.
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EURUSD and GBPUSD have been the cash cows of the previous week.
In the coming week, I'm taking partial profit on this two and wait for price to prove my projections then enter again in the same direction.
You can review my previous posts on these two pairs.
Elliott Wave approach provides a very well defined entries into trades based on the confirmed levels and patterns by the market.
So, how do I proceed from the situation, the overall projection of the direction is still valid, but when is the right time to invest my money?
The expectation of wave C to be more deeper to complete wave 2 is still valid and I wait for the price to reach the right levels before entry.
Patience all the way, taking one winning trade a week is better than taking 5 trades and win only one. A trade missed is better than a trade lost.
------
EURUSD and GBPUSD have been the cash cows of the previous week.
In the coming week, I'm taking partial profit on this two and wait for price to prove my projections then enter again in the same direction.
You can review my previous posts on these two pairs.