Yesterday I updated EURGBP and mentioned that I expected a reversal although it could make another high for wave 5.
See link below for that post:
I think we still need that fifth wave higher but by means of this chart I'll try to show a trade example so you guy's might be able to better understand what I look for once I post an analyses. I'm very conservative in my trading and wait most of the time. However as long as I trade at least risk/reward: 3/1 you don't need that many trades.
Take profit is indicative, I watch price action by means of reversals or consolidations and adjust my stop loss accordingly.
See link below for that post:
I think we still need that fifth wave higher but by means of this chart I'll try to show a trade example so you guy's might be able to better understand what I look for once I post an analyses. I'm very conservative in my trading and wait most of the time. However as long as I trade at least risk/reward: 3/1 you don't need that many trades.
Take profit is indicative, I watch price action by means of reversals or consolidations and adjust my stop loss accordingly.
