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Friday, 30 November 2012

EUR/USD M30 Update + Trading Plan Idea

Rationale:
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,
Seb


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