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Friday, 30 November 2012

EUR/USD M30 Update + Trading Plan Idea

Unclear situation now, two differnet count in play but I'm short after Germany data due to my count showing correction time.
There is one more count on H4 time fram I had posted yesterday. It indicates that this small wave (a) or alt:2 might be just sharp correction wave 4 really and we still have wave 5 to come.
There is another possibility showing that my top of wave 3 from yesterday is really wave (i) of expanding wave 5 and there is more upside to come.
So, I'm going to play short first but if any new hight occours on London open I'm long playing extended wave 5 scenario.

Entry: Sell @ 1.3020
SL: Any new high.

Entry: Buy Market after new high. Any good price.
SL: 20 pips ( or below 1.3000)
TP: 61% of Fibo Extension of wave 3.

Take care,


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