Profit: $3.55 Total: $981.12
Dollar has continued to fight through another day and made new highs. Tomorrow will be an important day for the dollar as it awaits the GDP number. The data may not directly affect the dollar’s course, however, if there are any extreme deviation of a data, it can certainly create volatility. October is almost coming to an end which means we’re closer to the US election and Fed rate hike.
I ditched the Elliot Wave Theory from yesterday because the counts were so subjective. There are also strict rules in the theory which made it impossible to find the perfect count that respected all rules. However, I am now more aware of impulse and corrective moves. Although I’m not counting the legs exactly how the EWT states, I’m incorporating my technical analysis with price action to scalp. I mainly scalped the EUR/USD after failing to catch a NZD/CAD move down.