Following on the heels of the recent trade I posted (see Related Ideas: "TRADE: AUDUSD: BUY@.70011 Waiting wave (B) Finish. AB=CD Done") in which I also said that " then should wait for prices to see if they drop a little more into the g-zone. Between the .786 and the .886 should be a good entry if it gets there. ".
Well, prices did exactly that. They are now sitting at the .886 retrace within the g-zone (goldilocks zone) which is a strong reversal level. This will also be a good point for the C point of the bat to go.
MY TRADE PLAN Therefore, I am adding to my LONG positions here and buying again at this level. Stops go below the lowest low which if prices do break that would obviously invalidate the patterns and my wave count.
*DISCLAIMER: Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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there is a convergence on RSI so I think lover low has to be clear to rule out possible reversal.
EverythingForex
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Don't rely so much on the RSI. Another newbie mistake. You see it on my chart but I don't use it to confirm or reject any trade.
neolu
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Could you plz highlights the AB=CD here becaus i did not see it, thank you
dbriscoe123
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what you actually said yesterday was buy at 6990 so why is it that you then post that you bought at 6950 instead?
EverythingForex
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Two separate trades, dude! Follow my posts more carefully! And that first trade, I actually had mis-typed it and realized I had actually put 0.69900 in "MY TRADE PLAN" section when i had had actually bought it higher at 0.70011 upon double checking. Just was too late to go back and edit the mistake after I realized it. I'm gonna just give the benefit of the doubt and assume you do not mean anything negative by this comment. I don't have the need to mis-lead anyone! This isn't a contest and I don't post for my ego! It's too much damn work to do that!