As predicted, Euro is now forming wave iii. Unfortunately, we are unable to catch the most wanted wave to ride.
We will wait for another opportunity, or we will update and wait for another opportunity for another currency pair.
TRADING PLAN : For EUR/USD, stand aside and wait for another signal.
*Beware, our prediction is not guaranteed to be accurate. Always control your risk and don't be greedy.
THESE SIGNALS/ ANALYSIS ARE PURE FROM OUR TEAM. PLEASE APPRECIATE OUR HARD WORK AND DON'T BE A COPYCAT.
To Our Success,
Elite Bisnes Team
Saturday, July 9, 2011
Our Trailing Stop Loss has been hit. As shown above, Euro has probaly completed wave ii. Now is the most exciting part that most elliot wave trader has been waiting for, wave iii.
If all the current wave count is valid, we can take advantage and ride the 3rd wave of the smaller degree.
TRADING PLAN : Place Limit Order to short Euro above 1.4300 area. Place Stop Loss for 200pips. 1st Take Profits level is suggested at Fibo Expansion at 61.8. Same as our previous strategy, use Trailing Stop Loss! Take Profits level will be updated after we are very clear with the price direction
*Beware, our prediction is not guaranteed to be accurate. Always control your risk and don't be greedy.
THESE SIGNALS/ ANALYSIS ARE PURE FROM OUR TEAM. PLEASE APPRECIATE OUR HARD WORK AND DON'T BE A COPYCAT.
Our limit order to buy Euro has triggered and Euro hit another one week low at 1.4221. Stop Loss still not hit and price bounced off the low.
So, right now the end of wave i is at 1.4221. The Take Profits is still intact and we can hold the position until the Nonfarm Payroll data which is to be released tomorrow.
TRADING PLAN : Hold current position. You may close the position if you are satisfied with the current profits position. Place Stop Loss above your entry area if you wish to hold until Euro hit your Take Profits level.
*Beware, our prediction is not guaranteed to be accurate. Always control your risk and don't be greedy.
THESE SIGNALS/ ANALYSIS ARE PURE FROM OUR TEAM. PLEASE APPRECIATE OUR HARD WORK AND DON'T BE A COPYCAT.
After taking a very long rest, our team is back to provide you the latest analysis and signal using Elliott Wave combined with Fibonacci to predict the price direction and ride the trend.
With our new approach, instead of trying to label the wave count as whole to the chart, we would only label the visible pattern which is the most recent.
As you can see, we have identified an impulsive 5 waves down of i,ii,iii,iv,v which form wave (A) or alternatively wave (I). Wave (A) are followed by wave (B) with a,b,c inside of it.
Currently, EURUSD depreciates after making a one week High at 1.4576 and made a new one week low at 1.4285. Combined with the fundamental issue which is Greek's debt crisis stimulates the price action and now looks like Euro has completed wave i of (C) or (III).
By using Fibonacci, retracement is expected and Euro would probably heading for the Fibo levels at 50.0, 61.8 and 76.4.
TRADING PLAN : Place a Limit Order to long Euro at 1.4300 with a take profit at 1.4435 (50% Fibo retracement level) or you can place your Take Profit at higher Fibo Level. Make sure to use trailing Stop Loss. Place Stop Loss below 1.4285 level (which is end of wave i)
*Beware, our prediction is not guaranteed to be accurate. Always control your risk and don't be greedy.
THESE SIGNALS/ ANALYSIS ARE PURE FROM OUR TEAM. PLEASE APPRECIATE OUR HARD WORK AND DON'T BE A COPYCAT.
