EU got a nice bounce from Powell's comments. But the downtrend is undeniable, just needs a retrace.
I am watching the three red zones for possible short entries.
I have been short since early April, based on this original plan:
I then fine tuned the fibs and ew to this plan:
In that bigger picture, I am thinking wave 5 down might be done, so we are getting an ABC retrace
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No serious entry yet (scalped a few shorts for 10-15 pips each). Price Bounced off my first possible zone, looks to be headed to my second zone, which is ideal
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First short attempt fired
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oops, meant to post this trade set
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Tp1 hit on one short (75% of position size). Second short (25%) looking for TP2 is still on. Even if I lose the second position, it will be profitable overall. But I win both, sweet!
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Sorry for lack of updates on this plan. My short did reach TP2 as well, and hit the first Red Arrow target. That happaned to be a 2.618 extension of the impulse down, so of course it bounced with some vigor. Now watching to see if can break back above the 1.618 or not.