In the last update i was looking for a decline, price went a little higher first but declined anyway. This decline was in 3 waves which look finished now. I am now once again looking for a rally. I would also like to point out the weekly candle is a hammer which lays on the 61.8% fibonacci retracement from the entire rally from the february low. I labelled the rally as a wave W and the decline as a wave X because price action from the wave X low is corrective, the rally will be wave Y in a complex double 3. As for alternative counts, wave X could extend further or become a triangle.
Currently, it is extremely hard to decide up where the trend is moving, but got to believe in trading with proper method and avoids doing anything unnecessary. I enjoy trading long term which is easier due to broker like OctaFX since they got swap free account and I am not required to worry much about paying overnight charges. I feel all so much comfortable with it and brings fair amount of rewards for me and allows me to trade nicely.
ReplyDeleteIt is extremely hard to say where these things are going to turn up next, but we just got to be extremely careful with our approach and make sure we have things spot on. It helps me a lot under TradeWiseFX , as they are amazing by all means to tight spreads, market updates and much more!
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