Tomorrow - NFP will be released. The ADP recorded yesterday a dismal 374K.
If the NFP records a dismal # tomorrow too, there will possibly be a strong spike in sterling against the dollar.
I will take this as a sell opportunity, to sell a rally in the Elliot structure shown on the chart.
I will sell 1/3 size @ 1.3840
1/3 size @ 1.3890
& final 1/3 size @ 1.3960
Stop on all at 1.4050. Ave ~1.3895. Target 1.3500.
I would keep risk < 3% on a 10k account, & <10% on a 3k account. Trade size can be calculated & distributed been the levels accordingly.
Profitable Trading
Summerset
If the NFP records a dismal # tomorrow too, there will possibly be a strong spike in sterling against the dollar.
I will take this as a sell opportunity, to sell a rally in the Elliot structure shown on the chart.
I will sell 1/3 size @ 1.3840
1/3 size @ 1.3890
& final 1/3 size @ 1.3960
Stop on all at 1.4050. Ave ~1.3895. Target 1.3500.
I would keep risk < 3% on a 10k account, & <10% on a 3k account. Trade size can be calculated & distributed been the levels accordingly.
Profitable Trading
Summerset
