Sometimes I'm amazed at how well Elliott Wave and Fibonacci levels can project the market. Look at the charts I've had on this pair the several days (below). You can see the pair has traced out exactly as I projected. Unfortunately, I did not profit from the entire move, I exited the remainder of my position at 2.0375. So a 103 pip profit on half position and 156 pip profit on half position results in an average profit of 130 pips on a full position. Here is a previous post illustrating my projections on the GBPNZD
The markets are positioned where they want to be before the British vote a little over 12 hours away. So I don't expect much action unless something is leaked about the results, or projected results. I am going into that vote as light as possible, i.e. no forex or futures positions. I would be very careful for anyone holding forex positions into that vote as currencies have the potential to move extremely fast, and stops may not get triggered as intended.
As for the S&Ps, the bullish move I projected from the 130min VIX buy signal has been fulfilled as is no longer valid. I have no signals either way on the market now, but the wave count I have is bearish. I plan to wait for the dust to settle from the vote tomorrow before I make any more trades.
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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.
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