I wake up late today, so i can't ride the down move this morning on EURUSD. Down move already happened so what i have to do ?
Here is my plan:
If you check my chart, i made sign "A" and "B" at the up wave which is happened on last Friday and i draw my KG Fibo Level there. As my wave defenitions, the down move which is happened currently is called a retrace. We don't know yet it will be a medium retrace, big retrace or reversal. But as per my wave definition, if the retrace just reach SD -0.5 (1.2832) KG Fibo Level and move up again it's means she will make a medium retrace, and if she reach SD -1.0 (1.2765) it's call a big retrace but if she move down more than SD -1.0 i called it a reversal.
Currently base on Daily Bollinger Band (PaleGreen), the price still in consolidation phase because price still in Daily BB SD +/- 1 range. And base on My KG Daily Range Level (Lime), currently price stay below SD -1 level (1.2876). The down move still in "medium down trend" base on my Daily Trend Analysis, so i'm sure a retrace still not finish yet. But base on my KG Daily Momentum, i can see currently the down move still weak, because currently momentum still play on daily Momentum.
So, in this situation i will wait until price move to area of SD -0.5 (1.2832) and SD -1.0 (1.2765)... because in that area the turning poit probably will happened. So, for EURUSD, i plan to BUY in that area if all trigger confirm. I will not jump to the flow... for me that's to dangerous.. it's my fall to wake up late so i can't catch the down move, so i have to wait... hehehehehe. I will place My Sell order if there is a small retrace happened in current down move.. we'll see then..
Hope this could help you and understand how i decide my decission...
Posts
