Wave theory with a cup of coffee - page 6
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The other situation is on AUDUSD and again a same story is applicable on this chart.
Also some similar situation are being formed on NZDUSD and Gold.
In these situations I am going to check my charts tomorrow morning (around 7am GMT).
Good Luck
what a nice position it was.......
due to the unexpected news for German Ifo Business Climate, I change the stop loss point to the entry point.(for EURAUD position)
Last Week Recapping
Last week we started with three position, which was appeared on Monday morning, I only managed to close one of them in the entry point(USDCAD), and for other two positions(EURUSD, AUDJPY) , Stop loss levels were touched. On Tuesday I found a position on GBPJPY which turned out as a win position and on Wednesday another position on AUDUSD which again hit the target. The last position of last week was on EURAUD, which I made to close it on entry point. There were some other situations that none of the became activated.
One of the advantages of having a strategy which has a good risk/reward ratio is making profit despite of having some loss trades which in my opinion are inevitable. As you know I close all my positions on my first target which is on 100% projection of (1 or A) wave. Or some times a resistance or support before that. Anyhow, I always try to have a target which is twice the size of stop loss.