MisterTrader
Long

AUDJPY : waiting for Long on eliott wave

FX:AUDJPY   Australian Dollar/Japanese Yen
41 2 1
TRADE IDEA CLOSED
Waiting for pull back on IV Eliott wave, entry on reversal Price Action with momentum.
Strong support at 98.

=============================================
Trading rules are :
1. Trades are taken in 1, 2 or 3 units depending the situation.
2. If 90 percent of first target is reached I move stop loss to break-even.
3. If 90 percent of first target is reached without triggering entry I cancel the trade.
4. About targets : this is not an arbitrary approach, because every situation evolves different, targets will be adjusted according how price behave on key levels.
------------------------------------------------------------------------
My 5 tips to keep in mind that will save you from losing :
- Make sure to have enough Momentum on your side
- Use powerful confluences ( BRN             , major S/R, Div             , Trend-lines, Fibos)
- Have enough space to reach 2 Ratio:Reward at least, avoid tricky noise situations
- Good price action ( pinbar , inside bar etc..) at bottom/top for a good price
- Enjoy your wins and learn from your losses

Wish you great success !
Just wondering if you're using a proprietary form of Elliott Wave
or the so called new "harmonic E Wave" in this analysis.
I ask because of the 3 inviolable rules of classic EW.
1st being that wave 2 cannot retrace more than 100% or
wave 1 and the 2nd that wave 4 cannot enter the price area
of wave 1 - the exception being a leading or ending diagonal.
So, I was wondering which you're using.
Wishing you lots of pips in your pocket for 2015 !!!!!!
Reply
MisterTrader dojitrader
Hello mate,
You're right, it's not E wave ! I will correct this, I wanted to show the waves structures by using Ewaves tool.
Cheers
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out