Hello Traders I have done my best to present accurate and real time illustrations as the story unfolds.
Welcome to Buy Dips and Eat Chips.
Elliot Wave analysis usually works in 3–3-5 meaning ABC-ABC-1-2-3-4-5 movements.
This method is used to accurately predict trend continuation and reversals.
The chart above shows the replicated move for Elliot wave structure. From my perspective the cycle has now reset and we are in wave B of the sequence. About to retest the support for the third and final time before breaking up to downward sloping resistance of our triangle. (White lines)
A mentor once said “when you don’t have to worry about what happens after placing a trade, that is when you know you are doing it right”
*Apply Stop Loss
*Wait for a retest to enter a trade position
*Take Profit is better than No Profits
*Don’t revenge trade / FOMO in middle of trends
*LONG THE SUPPORT - SHORT THE RESISTANCE
*Have your trade parameters defined/written down for both BULL and BEAR situations before entering position
*Sometimes the best trade is NO TRADE - volatility sweeps happen often in zones
*Log your trades and WHY they succeeded or failed. Do this over and over and over.
If you like some of the content please follow and like / comment your ideas !!! Happy Hunting.
Welcome to Buy Dips and Eat Chips.
Elliot Wave analysis usually works in 3–3-5 meaning ABC-ABC-1-2-3-4-5 movements.
This method is used to accurately predict trend continuation and reversals.
The chart above shows the replicated move for Elliot wave structure. From my perspective the cycle has now reset and we are in wave B of the sequence. About to retest the support for the third and final time before breaking up to downward sloping resistance of our triangle. (White lines)
A mentor once said “when you don’t have to worry about what happens after placing a trade, that is when you know you are doing it right”
*Apply Stop Loss
*Wait for a retest to enter a trade position
*Take Profit is better than No Profits
*Don’t revenge trade / FOMO in middle of trends
*LONG THE SUPPORT - SHORT THE RESISTANCE
*Have your trade parameters defined/written down for both BULL and BEAR situations before entering position
*Sometimes the best trade is NO TRADE - volatility sweeps happen often in zones
*Log your trades and WHY they succeeded or failed. Do this over and over and over.
If you like some of the content please follow and like / comment your ideas !!! Happy Hunting.