Day trade off hourly with EW 5 wave play 10-8-19
GBPJPY is offering up a nice looking EW 5 wave setup pattern. From current levels it could, if it plays out deliver 50-80 pips with a well defined stop loss. The small pink line is my choice to play should price break down. With stops around the 131.00 round number. My orders are stop sell orders on this one.
My reasoning for this kind of order is simply this...
I love living my life away from computer screens. This style of trading however doesn’t mean I don’t trade, it just means I try to find a good pattern to play, target my entries, place reasonable targets and allow the my statical setup to play out be it good , bad, or indifferent. It is an emotional free way to trade, so long as you’ve done the statistical work to find a high probability trades.
Thus is not trading advice. If you decide to trade any idea you assume all risk of loss.
In trading you either make dust or you eat dust.
All the best my trading warriors.
I’m going to bed, see what happens in the morning. G-night.
My reasoning for this kind of order is simply this...
I love living my life away from computer screens. This style of trading however doesn’t mean I don’t trade, it just means I try to find a good pattern to play, target my entries, place reasonable targets and allow the my statical setup to play out be it good , bad, or indifferent. It is an emotional free way to trade, so long as you’ve done the statistical work to find a high probability trades.
Thus is not trading advice. If you decide to trade any idea you assume all risk of loss.
In trading you either make dust or you eat dust.
All the best my trading warriors.
I’m going to bed, see what happens in the morning. G-night.
Comment:
Well good morning. Checking in on this idea and I find a busted pattern. It happens! The suspected breakdown never happened, news of some kind I suspect caused a spike up in price. The gray channel is still in tact so we look for other opportunities. Off to next trade.
