[11/8] Continuing the momentum from the previous day! Elliott Wave around 9 o'clock!
Hello! I am Sacky, a wave trader (@skiym_aaa).@skiym_aaa) and I am currently a full-time trader.
My trading style is day trading,
and I trade every day aiming for the third wave of the Elliott Wave.
Now, let's quickly look at the Elliott Wave that occurred yesterday (11/7)!
★GBP/JPY 1-minute chart Morning (10:19)28.9pips gained!
※ Fibonacci retracement is drawn from the end of Wave 1 toward the starting point.
- Entry rationale (Wave 1 certification basis) ➔ Range break
- Entry ➔ MACD dead cross after 61.8% Fibonacci retracement
- Take profit ➔ 100% of Fibonacci (7.8 pips) and 161.8% of Fibonacci (21.1 pips)
- Stop loss ➔ 23.6% Fibonacci
- Key points ➔ Trend from the previous day / round number break / wave around 9 o'clock / reached 261.8%
There are many points, but in short:
① Continued the strong downtrend from the previous day
② Around 9 o'clock, a larger wave occurred and the trend switched again
③ Round numbers were clearly broken
④ Reached 261.8%
When the trend is strong like this, waves can still form properly in the morning.
Well then, see you tomorrow!
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