Tuesday, June 24, 2008

Elliot Wave

looks like cable start to form another wave up, more risky today to take a trade. our achievement to collect 100 pips a week already completed yesterday. the next trades is bonus, if u have more courage then take a trade today but its better step away.

today strategy :
-go long using EMA34 and EMA 1 crossing on 1 hour time frame, wait for a clear cross to enter. maybe less than 20 minutes from now to cross over, take 1.9700 as the first target and 1.9730 as the second target. take 1.9625 as stoploss or if they create another cross then close the order and open a new one, a short one.

-if the EMA34 and EMA1 doesnt cross then take a short using EMA20 and EMA1 crossing, close the short if they create another crossing up. wait for a clear cross and dont take profit too much.

-trade only in or after 8 am Europe Time Zone




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