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Monday, November 01, 2010 9:21:28 PM
Actually, you have to watch all of them pretty much. In order to find out what a wave will do in one time frame, you need to know what's going on both above and below it at the same time.
By the way, I moved my stop loss to 1.3910. Now that the final sequence down has started, there's virtually no chance it will return to test the 38.2 fib again until after the sequence down is completed. Since I shorted at 1.39122, it is now a totally risk free trade. I'll make 2 pips no matter what happens. I can just relax and let it do it's thing.
I love EW theory.
By the way, I moved my stop loss to 1.3910. Now that the final sequence down has started, there's virtually no chance it will return to test the 38.2 fib again until after the sequence down is completed. Since I shorted at 1.39122, it is now a totally risk free trade. I'll make 2 pips no matter what happens. I can just relax and let it do it's thing.
I love EW theory.
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