Sometimes it’s easy to lose our way when either we have too much wins or too much losses. I call this big head or small head.
After a day of trading, I like to look back what I’ve done and get re-aligned.
Let’s get realigned with EURGBP – a trade that was stopped out last week.
Day chart shows downtrend; price in a triangle
Behaving in a triangle, thus low of triangle will be a support
H1 shows down flow, multiple 1234 count
However, only blue 1234 count is valid. In red 1234, pt 3 is lower than 1
Drawing a F6 from blue 1234, price has already closed below F6.
Thus I’m looking for a move towards bottom of triangle, which is around 7850-60
#tflow wk49/1 $eurgbp below 7915 has S 7850-60