GBPCHF - Perfect Long

It looks like Hurst Exponent is indeed improving my confidence in the trades. (While CLM3 is still running, here is the GBPCHF trade that I took on yesterday evening. The gray/red/green lines are entry/stop/target levels.

GBPCHF Chart - Long Trade Analysis

While Stochs at times showed signs of price dropping (and evident from the two bars that formed the higher low), I held on to my trade.

In hindsight, this is wave 4 of Wolfe wave. There is still a bit of meat to take away from this trade, to ride it short. But for that, we need to wait for hurst to give us an indication of volatility (turn blue).

Stochs currently points to overbought level, but I think its just consolidating price in the current levels.


About Hurst: Notice again how during the 'Blue' period of Hurst, we see more of an upward push. I'm starting to think that whatever the dominating move will be during the volatile period in hurst, that will prevail once the market starts to trend again. This means, we cannot blindly go short on GBPCHF right now because Hurst still shows that there is a bit of upward move left (despite what Stochs say).

Next update... when CLM3 hits the target (its day 2 now and price is ranging, which is getting to be a bit frustrating).