CLOSED TRADE: GBPUSD: BUY@1.52200 Invalidated Bat+Count -59 pip

FX:GBPUSD   British Pound/U.S. Dollar
689 15 18
I am closing this trade now and taking a -59 pip loss even though it has not hit my actual stops. Why? The recent price action has invalidated the bat and also my wave count. So the reasons for this trade no longer exist. I will re-analyze this pair over the weekend to see what I think is going on. Till then, I am not trading this pair anymore today.
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i feel w3 of 3 down
Really like your trading systems but I am new to this so a bit difficult for to to follow everything you post.
Do you do a training course?
No. I do not provide any training on my system. At this time, I don't do training because of the lack of time. I've been asked this so much that considering it but only if I can provide the support that doing something like that would take. I make my money through actual trading and servicing some private clients. Not through selling training or training materials. So at this time, I'm not considering this yet. However, you are free to ask me any questions and I will answer as I can.
vaporize EverythingForex
Thanks for the reply will keep following your post and try to understand, any advice where to aim my studies at ? elliott's wave price action trading .
Yes, his trade really go opposite, however, i will still hold it. I believe to see 1.5353, the broken support retest...good luck
You can be free to hold it but just be mindful of the price action. I am out simply because I don't see the reason to hold it anymore. It can still go back up but I won't take any trade on it until after I have a chance to fully re-analyze it over the weekend.
Not at all worried, Its another trade, One goes and other comes, Market is always there, Thanks Once again Master
EverythingForex PRO sam_thesupreme
yep. there will always be losing trades. Moving on......
+4 Reply
Respectful man! I love to see your work to confirm my trading idea. Keep working and making more and more pips.
To add to this, we are currently at daily strong support...it cannot break this zone for now.
First of all thank you for sharing your trades. Elliot is very dificult to me but exciting.
Did you discard the trade because the 2 wave can not reach the origin of 1.? Best regards.
Exactly. I took the trade because my wave count suggested that the downtrend might be a wave 2 and that would mean the next wave up would be a
wave 3. If it had turned out right, then I would be catching a wave 3 at it's very beginning. But when prices broke past the low of what I had labeld as wave (1), it invalidated my wave count as wave 2's cannot go past the wave 1's. So price action told me that my wave count was not right. So nothing to do but get out.
+1 Reply
see attached chart this is what happened. trend line was just a bump in the way, the big picture was intact. but of course now we know it, in hind sight. the market( or our mind) is always trying to deceive us. Keep up the good work! good luck on the next one! There will be more to come. ;)
Iou1melon PRO Iou1melon

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