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.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.