October 7, 2010

Alternate 1.27 or 1.618 AB=CD

Hi Everybody! As you know I short on Aud/Usd and Eur/Usd. Following the AB=CD pattern. I am not a perfect trader (simple human) and take a losing trade on Eur/Usd. My first entry was at 1.3980 and my stop was hit at 1.4010 only risking 30 pips. After that I re-enter at 1.3983 because the pattern still looks good for me. Impatience beat me little, but as you see our trade is working now.
The Aud/Usd gives us 3 break even trades and one losing trade, but is working pretty well now.
I have a short explanation for you: Sometimes AB=CD pattern Not have a ideal structure and present variations but still valid. In this specific trade we watch 1.27 AB=CD pattern.
Alternate 1.27 or 1.618 AB=CD
I hope this be helpful for ya.
Have a Good Week!