[10/30] Capture the big evening wave: Pound-Dollar trade example
Hello! I’m Sakkii, a wave trader (@skiym_aaa).@skiym_aaa) currently working as a full-time trader.
My trading style is day trading,
and I trade aiming for the third wave of the Elliott Wave Theory every day.
Now, let’s quickly look at the Elliott Wave that occurred yesterday (10/29)!
★ GBP/USD 1-minute chart around evening (17:12)28.8pips gained! ps
※ Fibonacci retracement is drawn from the end of Wave 1 toward the origin of Wave 1.
- Entry rationale (Wave 1 identification basis) ➜ A larger wave
- Entry ➜ MACD dead cross after a 61.8% Fibonacci retracement
- Take profit ➜ 100% Fibonacci (7.8 pips) and 161.8% Fibonacci (20.8 pips)
- Stop loss ➜ 23.6% Fibonacci
- Note ➜ It’s in the evening, which is a favorable time window.
This time the Wave 1 identification basis is roughly “a large wave,” but honestly, if you capture a large wave occurring in the evening, you can often manage it (laugh).
However, be aware that before a large wave occurs there is usually a slightly larger false move, so watch out!
Well then, see you tomorrow!
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