In the chart above you can see we are using the Elliot wave theory which is the most common trading technique I teach.
As you can see above we are currently forming corrective subwave 4. We would like to catch subwave 5 as this will be an impulsive wave were we can secure the most pips!
We will be shorting from between out 0.786 & 0.88 fibonacci levels as this is in out wave 4 invalidation zone where the wave cannot surpass otherwise this will invalidate subwave 4.
We are looking to secure atleast 500 pips from this trade.
Be sure to set your stop loss Remember to take your profit along the way and not be to greedy!
If you like my idea be sure to boost this idea! Thanks Pips-Collector