GBPJPY Elliott Wave Coverage with Trade Example.
Today I would like to share with you how to use Elliott Wave in Trading.
Firstly you need to analyze Daily/Weekly chart, what I've done 10 April. Elliott Wave Structure shows us sell opportunity.
After that you need to go deeper at daily chart to find the right moment for entry, I've found at this chart on 16 April:
I have opened short positions with RR 1/30. My risk is 1 Dollar, my profit is 30 dollars.
After first impulse down, market provided us 1 more opportunity to join, What dis I see here? I see the correction of Wave 4 to 50% Fibo. I have clear Stop at the end of Wave 1 (150.66), and the sell.
If you need everyday Elliott Wave analysis, contact me to join. I do basic Major pairs and I can do any other instruments by your request.
All the best!
Firstly you need to analyze Daily/Weekly chart, what I've done 10 April. Elliott Wave Structure shows us sell opportunity.
After that you need to go deeper at daily chart to find the right moment for entry, I've found at this chart on 16 April:
- PinBar
- Key level of resistance
- Fibo level
I have opened short positions with RR 1/30. My risk is 1 Dollar, my profit is 30 dollars.
After first impulse down, market provided us 1 more opportunity to join, What dis I see here? I see the correction of Wave 4 to 50% Fibo. I have clear Stop at the end of Wave 1 (150.66), and the sell.
If you need everyday Elliott Wave analysis, contact me to join. I do basic Major pairs and I can do any other instruments by your request.
All the best!
Trade closed: target reached:
Fibo level helps to exactly identify target