i just closed out short on the AUD.USD 0.8670 at 0.8730 with 40 pips profit , some might think i closed that earlier than it should be ,, well , i have 2 reasons for closing this position
1- i m looking to switch into AUD.JPY as it has a better Elliott Waves clear setup while the AUD.USD is too noisy , and it drops more than the AUD.USD so its a better profitable pair for me at the moment
2- i m seeing a divergence on all indicators that might signal a short term bottom formed after the AUD.jpy went down in 3 waves which i labeled as wave B with Wave c up to go before the downtrend resumes , so we can establish the short position form a better floor
maybe the pair just sinks again but i wont regret closing this position as i trade what i see on the charts and i trade only good setups , that's why most of our trades r successful , so for now , i see a solid case of a short term bottom and i m gonna follow that case and short from a better position but this time it ll be AUD.JPY
Lookin at the AUD USD chart now,it looks like you are right...mid and longterm there should be much more bear potential though....keep up the good work!!
ReplyDeletethanks jonny , as i shown in the chart ,, short term turned little bullish but i ll be catching the end of this correction which is very normal after 5 waves down , next wave will be wave 3 which will be strong with high momentum and hard to ride if u didnt get it from the top ,, so stay alerted to the blog early next week
ReplyDeletei m watching a proper correction to form on the s&p 500 to start building short position on the AUD.USD OR AUD.JPY whatever i see more clear
Yea man I wonder why you have so few followers since you do exceptional work...good thing is that you dont lie about your trades like most traders do....
ReplyDeletewell jonny , i just started this blog like 1 month ago , i didn't have enough time to advertise it in the proper way but i was concentrating more at this time for making a frequent updated successful trading blog , and that will be a good core to advertise rather than a blog just started a week or 2 without remarkable results .
ReplyDeletei ll work on that once i close June on solid profits