Friday, 8 April 2011

GBP/USD Update

Last night's setup Click Here played well. In earlier post I showed where I had bracketed the market. When the alligator is asleep and its a saddle point bracket it and dont care which way the market goes. Of course using AO you could have a bit of bias and expect certain moves which is also great. This was prime example of it. Trades off a Saddle point are the best trades.

AO: I saw AO had peaked on one side was expecting 5th and it did 5th.  When AO diverges that confirms the 5th wave. We dont trade Elliott Wave but we do keep it as a confidence measure and sometimes when it unfolds just as we predicted, it really is fun.

1 comment:

  1. I like the reminder that we do not trade the Elliott Wave.

    I took the same setup, and like you and BW say, it is enjoyable when you see your trade fits into the structure.

    I forgot we have the expansion fib in our toolbox. Keep up these great post... I find them valuable and I know others do too!


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