The Euro $ has confirmed a short position at 800 am GMT. Its not a strong signal but i intend to take it as its in sync with my Elliott based count .
I am short Euro $ from 1.4150 stop 1.4270 on a swing trade looking for a target of 1.3950.
The Elliott count is complemented by a EVA MENDEZ setup on the h4 chart .
As i am using a 120 point stop the position is in 1/3 size.
I am risking 40 base points .
Tom and I have reviewed money management in whichwaytoday and i will implement a similar system here when i get the time away from flying and Elliott wave analysis. In Elliott, i laughted when an old trader told me, many years ago, that the first 10 years was the worst.
He was incorrect, its the first 25 years. After that its all downhill.
For real time analysis of indices and forex www.whichwaytoday.com
Have a great day.
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