Mates, As we all,Elliot 1-2-3-4-5 impulse waves followed by ABC-corrections are the core for advanced and harmonic trading. I insist you keep in mind the overall wave picture when you trade the patterns. You can either increase your accuracy dramatically or you can shoot for extended target as in the example above.
Trade active:
Now we've broken below the wave (iv). Stop should go above the recent peak.
Trade closed: stop reached:
it didn't work this time:)