[10/26] Earned 15.7 pips in USD/JPY! Elliott Wave Pattern Wave 1 occurs when two foundations align!
Hello! I’m Saki, the wave trader (@skiym_aaa).@skiym_aaa I’m a full-time trader who quit my first company after three years since joining as a new graduate.
My trading style is day trading,
and ITrade every day aiming for the third wave of the Elliott Wave.
Now, let’s quickly look at the Elliott Wave that occurred yesterday (10/25)!
★ USD/JPY 1-minute chart Night (23:12)15.7pips captured!
※ Fibonacci retracement is drawn from the end of Wave 1 toward the starting point.
- Entry rationale (Wave 1 recognition basis) ➡ Break of the retrace high
- Entry ➡ After 61.8% retracement on Fibonacci, MACD golden cross
- Take profit ➡ Fibonacci % (4.3 pips) and Fibonacci % (11.4 pips)
- Stop loss ➡ 23.6% of Fibonacci
- Point ➡ A W-shaped bottom with divergence
Since I usually trade the pound, this time I tried to ride a wave in USD/JPY.
The price move is a bit small, isn’t it? (laughs)
The key point is that the wave taken forms a W bottom.
And there is also divergence.
In this way
① It breaks the retrace high (push-down low),
② It forms a W bottom (W top) wave,
which tends to be Wave 1 of the Elliott Wave.
Well then, see you next week!
【Blog】
↓ I publish my own trading results and the “Wave Trading” method I’m explaining here!
“A Neet’s Start from Age 25”
【Twitter】
↓ I post blog updates and real-time Elliott Wave examples!
