EURUSD Long: Using Elliott Wave Theory to Maximize R/R

FX:EURUSD   Euro / U.S. Dollar
Hey Traders! I wanted to publish an example of using EW theory to set a tight SL and maximize risk/reward. Here we have a potential correction off of a strong bearish impulse. There are a few possible scenarios lining up for the corrective structure that follows. Our preferred scenario in this case is if the last leg is in fact a b wave and the "c" will continue to complete the correction before continuing downward. If this is the case, a great TP level would be the Gartley completion and thus a stop below b will get us out quickly. Of course, with all predictive analysis, this could continue past our stop and complete wave ii which we will then re-analyze. The idea here is utilize the edge of R/R and size your trades accordingly.

Happy Trading!
Trade active
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out