[11/13] Total of 52.2 pips gained! ~ Trend reversal wave from a W bottom ~
Hello! I’m Saki, a wave trader (@skiym_aaa).
I quit the company I joined as a new graduate after three years and am currently a full-time trader.
My trading style is day trading,
and I trade aiming for the third wave of the Elliott Wave pattern every day.
Now, let’s take a look at the Elliott Wave that occurred yesterday (11/12)!
★GBP/USD 1-minute chart night (20:16)52.2pips gained!
※ Fibonacci retracement is drawn from the end of the first wave toward the origin.
- Entry rationale (first-wave recognition basis) ➜ break of the retrace high
- Entry ➜ MACD golden cross after 61.8% Fibonacci retracement
- Profit target ➜ 100% Fibonacci (17.3 pips), 161.8% Fibonacci (34.9 pips)
- Stop loss ➜ 23.6% Fibonacci
- Point ➜ W-bottom (divergence) is occurring.
The EMA alignment hasn’t caught up yet, but this kind of case can happen.
I hesitated about entering and ended up not entering...
In such delicate situations, it can be ok to enter after pulling the stop-loss line (23.6%) to the extreme.
That improves the risk-reward, so a few pips of loss can translate to tens of pips of profit.
Well then, see you tomorrow!
【Blog】
↓ I and my trading performance, and the “Wave Trading” method I’m explaining here, are published!
“How to Start Being a NEET at 25”
【Twitter】
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