There is still the possibility that we are just seeing a correction from 1.5900, instead of a top. There are only 3-waves thus far, and WaveC = WaveA within 3 pips. If the rally from 1.5612 is choppy and overlapping, I will look to go short. Otherwise, we may yet see a new high. Either way, I'm putting my stop just above the Wave1/A low.3/18/2008
EUR/USD Short Trade Update
Update of trade from 3/17/08, @ 6:46pm CDT: I am moving my stop to 1.5705, locking in +100 pips.
There is still the possibility that we are just seeing a correction from 1.5900, instead of a top. There are only 3-waves thus far, and WaveC = WaveA within 3 pips. If the rally from 1.5612 is choppy and overlapping, I will look to go short. Otherwise, we may yet see a new high. Either way, I'm putting my stop just above the Wave1/A low.
There is still the possibility that we are just seeing a correction from 1.5900, instead of a top. There are only 3-waves thus far, and WaveC = WaveA within 3 pips. If the rally from 1.5612 is choppy and overlapping, I will look to go short. Otherwise, we may yet see a new high. Either way, I'm putting my stop just above the Wave1/A low.
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