[10/29] Reached 261.8%! Trade example of AUD/JPY
Hello! I’m Sakki, a wave trader (@skiym_aaa).@skiym_aaa I’m a full-time trader now after leaving my first company after three years.
My trading style is day trading,
and I trade by targeting the third wave of the Elliott Wave pattern every day.
Now, let’s quickly look at the Elliott Wave that occurred yesterday (10/28)!
★ AUD/JPY 1-minute chart, around evening (18:08)12.8pips gained! ips獲得！
※ Fibonacci retracement is drawn from the end of Wave 1 toward the starting point.
- Entry basis (Wave 1 confirmation) ➜ Break of the retracement high
- Entry ➜ 61.8% retracement on Fibonacci, then MACD golden cross
- Take profit ➜ 100% of Fibonacci (2.3 pips) and 161.8% (10.5 pips)
- Stop loss ➜ 23.6% of Fibonacci
- Point ➜ Reached up to 261.8%
This time I tried to catch the wave with AUD/JPY.
After all, the wave size is too small unless it’s the pound.
I listed it as an example this time, but I don’t enter if the Wave 1 range is small.
Reason is below.
① When placing a stop at 23.6%, there isn’t even 5 pips of range, so I can’t place a stop loss.
➡ I would have to monitor the chart continually.
② Volatility is low, so the probability of reaching the target is low.
So, after starting “Wave Trading” for a month, honestly lately I’ve only been looking at the pound.
I don’t enter other currencies unless Wave 1 is quite large (about 30 pips).
Well, I’ll think about it while collecting more data.
Well then, see you tomorrow!
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