Friday 17 September 2010

EUR/USD Week 3

1st Trade
Sell at 1.0365

Break down fractal (wiseman 3)













Close 1st trade and 2nd Trade
Close at 3074 (previous five bar high), total loss of 9 pips..

Buy at 1.3086 (Break fractal up), Stop loss at 1.3065 (previous five bar low)











Close 2nd Trade

Close 1.0375, total loss of 11 pips..

hmm... looks like a wave B...
Posted by Mr Alligator at 21:22

3 comments:

  1. Unknown17 September 2010 at 22:21

    when you start short ... is it for long or short period of time ? because in H4 the price still inside the alligator mouth where bill williams not recommend us to do anything inside alligator mouth.

    sometimes I got confused about the time frame. just like what you did. in h1 it break out the fractal and the alligator is above .. but h4 and D1 still have strong uptrend.

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  2. Mr Alligator20 September 2010 at 14:55

    until the hourly chart give me an exit signal..

    yup ur right my entry is a counter trend and a bit aggresive too hehe.. i'm hoping for a correction (end of wave 3 in the 4 hour chart) since there's a divergence on the hourly chart..

    and yeahh bill williams told us to stay away from the peak of AO in wave 3 until it goes below zero.. hehe

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  3. Mr Alligator20 September 2010 at 15:11

    when the price it's in the alligator mouth it means its in a corrective wave right(4hour chart).

    based on the 4 hour chart, don't trade. but in a corrective wave, there's wave a and c, which is an impulsive wave.

    What i do is looking wave a and c in the hourly chart. meaning based on hourly chart you can trade, but be careful coz ur trading a corrective wave.

    nzd/usd week 3 is a good example why bill told us to stay away from this kind of market.. hehehe

    Hope this help...

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