This post is to follow up on my trade planning for long term technical outlooks which at the time I had chosen U/C to do so as I had presented to WMD personally.
Last July 13th I believe I had started posting trade plans to buy U/C off daily chart setups that were trading the higher time frame monthly stoch cycle, blue circles. The basic plan was to buy OS daily stoch cycles that would align the 2 time frames of momentum. Using fractals I was then showing how to use the 1 hour to time momentum that would actually be aligning 3 time frames of momentum.
After allowing the monthly stoch to cycle for approx “6 months” I was talking about trade planning to sell the U/C, white circles. In that I talked about price being in a correction off the decline a year prior and that planning to sell around the 50-61.8 fib might be a possible trade to consider. After a failed first attempt and being knocked out at BE it was time to wait and see if the 50% would hold or the 61.8 would be tested as was the case eventually. When price paused at the 61.8 for about a week it was time to try again to get in on the trend early. Honestly I probly tried after the 50% was tested again but don’t recall.
As it turns out the 61.8 was the fib to trade off of as price has fallen out of bed since then with a tradeable 900 pip decline. Notice that “Now” the monthly stoch is clearly showing sell after the cycle up but with technical planning it’s possible to trade. If the 100% retrace is in the sights and price breaks thru then the U/C could be heading down to the 1.1500 zone as the 38.2-61.8 fib extension targets are down there. Also notice that there is a 55/233 ma cross, red circle, developing currently which is a longer term daily technical.
This post isn’t to brag in any way but rather to show planning & patience can be rewarded and also to complete a commitment I made 1 year ago. It’s very important to understand the “Time Factor” in whatever time frame you choose to trade with this example being about the longest since you sit in trades for months at a time. Had there been more interest on the site tho it would’ve been fun to follow this every month. BTW, the swap on this pair is pretty insignificant compared to pip gains.
Best of pips to all.