(Click on the picture to enlarge)The break above 143.27 has, as I wrote yesterday, forced me to alter my count. The break above 143.27 confirmed, that wave ii is still in motion and should idealy find its top at 143.64 before turning down. A break below 142.07 will confirm that wave ii has finished and wave iii down closer to 138.25 has begun.
The August 5 high at 144.46 may not be broken at any time, as this would indicate, at the C wave from 124.55 in early March has not yet ended and should rise closer towards the 145-147 area. (This is not the prefered picture, but will have to allow price and form to show us which count is the right one).
Buying USD close to the 143.64 target area will represent a low risk buying opportunity as the stop can be placed just above the August 5 high at 144.46 (risk should be less than 1%).
The safe bet would be waiting for at move below 142.07 with stop above 144.46 meaning a risk closer to 2%.
Remember allways use protectiv stops when trading - The most important thing in regards to trading is money and risk management. If you don't manage your risks, the market will punish you at some point! The market will at best take away what you might have earnt and at worst leave you broke.
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