Archive for the ‘Zigzag wave’ Category

AUDUSD: I will sell if 1.0222 breaks down

I think it was a good decision to close AUDUSD short position. Soon after I closed the position, it bottomed, and now I see a clear rebound of .2 wave on the daily chart:

On 3 hours chart, I can see C wave now is about the length of A within .2 wave. .2 may be ending soon if my view that AUDUSD is still in IV wave is correct.

I will sell AUDUSD if 1.0222 breaks down.

EURUSD to 1.4750 in near term?

In the midst of the news of S&P’s downgrade on USA and ECB’s signal on massive purchase of Italy and Spain’s debt, here is what I think of EURUSD.

Here is the weekly chart with my Elliott wave counts:

Here is the daily chart:

Here is the 6 hours chart:

In near term, I may trade long EURUSD towards 1.4750.

Sold small unit of EURUSD

Capital growth for Q2 was 0.58%. Made up the loss from Q1 by a little, and now YTD is -1.75%.

So far, it looks like b wave finished as triangle wave, and the final impulse wave C of the zigzag .a emerged.

Here is 60min chart:

I sold EURUSD at 1.4058 with stop loss at 1.4380, risking 1.8% of my capital.

Real time trading tweets

The plan in the article may get rejected any time, so please check out my tweets on Twitter.

Current risk exposure:

"","","","","$29,058.30","","","","","","","","","","","","","","","","","","","","41.95%","","","2.00%","","","","","","","","","","","","","","","","","","","","","","","","","","","",""
Rational Move always use stop loss orders, and this is the worse case potential loss over the capital for the currently open positions. This is unrealized loss is less or equal to the risk exposure.

Capital growth

From recent 100 trades (%) The growth right before the 1st trade is set to 0%.
About this graph

Drawdowns

From recent 100 trades (%)
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Total returns

Since inception
(Aug 10, 2009)
Year-to-date Quarter-to-date
0% 0% 0%
This is a normalized value: the return on each trade is normalized against the capital just before the trade execution. This way, it is eliminating the effect by the capital change from deposits and withdrawals. The calculation thus reflects the trading performance of each trade. The value does not contain unrealized profits and losses. RM's trading strategy never risks more than 5% of the present capital. Not including subtraction by tax.

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