Tinnaz369
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Hello everyone.
I wanted to share what I have spotted as obvious Elliott Waves on the daily chart of GBP/USD.
If you look at the attachment you can quite clearly see that we have all 5 of the waves going perfectly up and all 3 going perfectly down. It looks as though wave 1 and 2 have formed once again in the uptrend and wave 3 (where we in theory make lots of pips) is about to begin.
I am going to enter right now at 1.5760 and enter a target of 1.6195 (a similar increase to the last wave), this would mean I should place my stop loss at around 1.5542 (in accordance with a 2:1 risk:reward).
I am not doing this on a live account, I am merely testing Elliott Waves, this is the best one I have spotted.
Does anyone trade using Elliott Waves? What are your opinions on this particular one?
I wanted to share what I have spotted as obvious Elliott Waves on the daily chart of GBP/USD.
If you look at the attachment you can quite clearly see that we have all 5 of the waves going perfectly up and all 3 going perfectly down. It looks as though wave 1 and 2 have formed once again in the uptrend and wave 3 (where we in theory make lots of pips) is about to begin.
I am going to enter right now at 1.5760 and enter a target of 1.6195 (a similar increase to the last wave), this would mean I should place my stop loss at around 1.5542 (in accordance with a 2:1 risk:reward).
I am not doing this on a live account, I am merely testing Elliott Waves, this is the best one I have spotted.
Does anyone trade using Elliott Waves? What are your opinions on this particular one?
