A simple approach to identify prime trade opportunities
This is a clear example of Elliott wave approach application to spot perfect trade opportunities.
The example relates to the current structure of NZDUSD
I assume that we have got an impulse and now price pulls back in a simple three wave correction.
Please note, that there may be four rule-based entries, two of them with a very short stop losses, as shown on the chart
Hope this helps
Be aware, that every structure even the one that seems be the perfect one, has its own probability based on the larger timeframe context.
therefore a good practice is to strongly follow:
1) risk and capital management
2) assign own rate of probability for every structure and be disciplined.
The example relates to the current structure of NZDUSD
I assume that we have got an impulse and now price pulls back in a simple three wave correction.
Please note, that there may be four rule-based entries, two of them with a very short stop losses, as shown on the chart
Hope this helps
Be aware, that every structure even the one that seems be the perfect one, has its own probability based on the larger timeframe context.
therefore a good practice is to strongly follow:
1) risk and capital management
2) assign own rate of probability for every structure and be disciplined.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.