BCH has made a perfect 4 waves so far, can it complete a 5th wave. At the moment a lot of trades are to completing their 5th waves, however, i quite like looking at these waves for several reasons.
1/ Once it breaks to the down of the elliot wave its easy to get out of the trade and cut your losses.
2/ Usually if you get correct entry for the 3rd wave and take your profits at the top of the 3rd wave, you can be a little more risky for a 5th wave as you have already made good profits
This is where education in TA comes in and you change to a smaller time frame and use your TA to find signs of support/resistance and make an unemotional decision from there
1/ Once it breaks to the down of the elliot wave its easy to get out of the trade and cut your losses.
2/ Usually if you get correct entry for the 3rd wave and take your profits at the top of the 3rd wave, you can be a little more risky for a 5th wave as you have already made good profits
This is where education in TA comes in and you change to a smaller time frame and use your TA to find signs of support/resistance and make an unemotional decision from there