For aggressive trader:
Put a SELL STOP @ 1.5859 (break the down fractal)
With 1st resistance @ 1.5882
2nd resistance @ 1.5895
Put your protective stop loss at those area.
Gud luck, we'll see how it goes......
It breaks the resistance and break the up fractal (I tend to be careful since it's a wave 4, so i didn't take it, I prefer to wait for another up fractal, momentum slightly increase but it still below zero). Now I'll just have to wait for another up fractal to develop or a WM1, we'll see.. Ignore my previous recommendation since the down fractal wasn't hit..
If it creates an up fractal and then the price continue to go down, break the down fractal, SELL or if the price continue to go up and hit the up fractal, BUY... We'll see which one got hit first...
Up fractal was hit, i'm on a position now. Buy @1.5966
Put a protective stop @ 1.5864 or close below red line.
Price open below red line, so the rule is to cut the position @ 1.5920
Total Loss: 1.5966 - 1.5920 = -46 pips
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New position, Divergence between price and AO, Sell on WM3 @ 1.5899
Put a protective stop @ 1.5960 (last fractal up)
Stop got hit, total loss 1.5960 - 1.5899 = -61 pips
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