My AUDUSD position has been stopped out, possibly proving my wavecount wrong. But we recall that flat corrections can make new price extremes.
The non-farm payroll data was 'unexpectedly' low. -159k actual vs -100k expected.
I say unexpected in quotes because I was expecting USD to weaken further. And besides that, many companies especially banks have been laying off staff.
In anycase, technicals are of key importance to me. So I'm taking my losses and waiting for the next opportunity. Its always painful to take losses, but necessary sometimes.
Take care and becareful out there.
Technical Analysis of the Forex Spot Markets using Elliott Waves, Chart Patterns, Candlesticks and other tools. Disclaimer: None of the comments in this blog shall be construed as professional trading or investment advice.
