Big wave surfing requires discipline, discipline and discipline !!!
You should also be familiar with NAEWMC (New Age Elliot Wave Market Cycle) and Fibonacci levels. In this case the suggested target for the 4th wave is 61.8 Fibonacci retracement of Elliot wave 3 or 1.13508. The 5th wave target is the 127.2 Fibonacci extension of Elliot wave 3 or 1.12867
Risk / Reward Ratio also plays an important role and should always be considered be for entering a trade
Your platform is also very important as this is the tool you require to be a technical trader. Personally I have to say that in all my years of trading finding Tradingview.com was like finding gold. this is a great way to keep a record of you trades. well done TV ......
And remember placing your stop loss, this is super important to avoid that big wave wipeout!
Happy Surfing
Delta_X-ray
Comment:
ill move my stops if needs be ...... im not going to lose out on the move down .....