Today, I took most of EURUSD's last crawl up to 1.4876, and this long position added about 4% to my capital. Good trade. Since this may be the end of multi-monthly Elliott wave big blue b, I was expecting that we could witness an irregular up-thrown of the price. So far, EURUSD seems to have ended the up-trend as a normal 5 wave move. The move down to 1.4797 following the peak can be counted as an impulse wave 1: the very first baby step to the crash of Euro. So, I established a fair size of short position averaged at 1.4836...which turned out to not to be very ideal entry position. In fact, during move up to 1.4866 (labeled as c in the chart), I had to keep my eyes on the chart because my initial stop order was 1.4865... I admit it's against my rule, but I decided to move the stops to 1.4880. But I had a good reasons to do so this time: 1. The potential upward a-b-c corrective wave 2 started to reveal itself. If this is real, it should stop before the high of 1.4876, and accelerate the downward move on the following wave 3. 2. The potential total loss was at 1.4880 stop was still within the loss range I could take. So, I am currently keeping my short position. But I am still not ruling out the possibility that we are in fact still in the 4th wave, and further upward move is waiting for us. So, I am cautious, and deciding whether to reduce the short position once it gets to 1.4815 level. In the "Short position failure" scenario, the price may draw a shape so called horizontal triangle as shown in the chart with the pair of gray lines. 1.4815 could work as resistance for this reason, and this is why I am thinking to cover part of my short there. Ideally, the price will go down to 1.4764 in this trade, and this is my initial target to take most of the profit. But again, moving the stop position in the direction of enlarging the loss is not a good break to rule unless I have a very very good reason to do so. I have got a long way to perfect my discipline.

The fact I missed the short opportunity on October 25th high started to cost me. EURUSD bounced back to 1.49 level as I posted previously, but I am not sure if this is the top. I attempted to long for a scalping, but the retracement was a bit deeper than I had expected, and I was stopped out with 51pip loss. Now I am seeing two possible counts as shown in the chart, and looks like post ECB reaction will decide the fate. I cannot keep looking at the chart around the critical time. So I will do the following: If 1.4800 breaks, I will short with 1.465 stop loss. If EURUSD retraces back to 1.4969, I will short at 1.4965. Stop at 1.5070. My loss cut is getting frequent. So, I will keep my position size small, protecting the capital.