The 50-point down move that happened from 88.48 to 87.97 is hardly a consolation when considering the 279 point move that followed. I hope you moved your stop to break even as advised, but even if you had not done that, your loss should have been no more than 20-25 points. In case you had not placed your stop at the recommended level, you have learned a valuable lesson from Friday’s move. That lesson is no one can be sure of the future. We can assign probabilities for a certain move happening, but one should ALWAYS take precautions in case the market does something differently. My personal experience over the years is when I get stopped, the move will usually go spectacularly in the opposite direction. This is actually a good thing, because (a) it keeps me in the direction of the trend for longer than most others and (b) when I get stopped, it is much easier to make back the loss because of the distance the opposite move will travel. Finally, if you are trading regularly based on my ideas, you should be very strict about my recommended stops, because those stops are often placed just above market pivot points. Good luck and speak to you tomorrow. Ramki
- Elliott Waves
- Elliott Waves Explained
- Elliott Wave Magic Illustrated with Wave Charts
- Elliott Wave Edge – How Elliott Wave Traders Win
- Fibonacci Number Series and Elliott Waves
- How to use Fibonacci Ratio Retracements
- Elliott Wave Books
- Ramki’s Watchlist
Yen breaks higher
By Ramki3 Comments2 Mins Read
Previous ArticleHas USD/YEN bottomed?
nice to see you again frds
Carmen yesterday on Scala Theatre, was like usd dollar: “Fantastic”
Euro & the Dollex looks like they have reversed their trends.
Any updates on that would be welcome.
Yes, the Euro looks weak and any recovery toward 1.4660 is likely to see fresh sellers come forth