Current Trade Disposition: SHORT UTD Profits: +260 pips
Back on April 25th, I posted this post in which I said that there was a POTENTIAL Cypher coming and that when that Cypher gets filled, it would be a very good opportunity to get back into a SHORT trade to resume the MAJOR downtrend which I had predicted accurately to happen back in Feb and March. Here's that post from April 25th about the Cypher:
Well, lo and behold! That Cypher got completed! And what has happened since then? You can see for yourself how accurate my charts have been! When that cypher completed, I issued a SELL call on May 9th and right after I issued that SELL, it dropped like a rock tossed off a skyscraper! So far, we're up over +260 pips from that trade and looking for MUCH MORE! Did you follow my charts? If you did, you'd be sitting pretty as well!
It is in a consolidation right now as part of this initial wave down off the cyoher. When this correction is finished, it will drop again. But is this correction finished? That is the question. So far, without completing an AB=CD pattern, it has started to drop again. Not unusual since the MAJOR trend is down but is it a good time to get in on the SHORT? Yes, if you can withstand the drawdown in case this correction is not yet done! PM me if you want more details on this and other pairs.
I Know you rarely do it, but any words on EUR/USD? if the dollar tumbles where is that pair headed? I recall you were never a bill bull long term on that pair, still on the same idea? Cheers!
Baytrader
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Your charts are great and have been a big influence on my trading style