April 30 2025 I entered the buy entry on the EURJPY pair at 161.80 with a 83 pip stop loss at 160.97 and eyeing for a move higher to the 3R target at 164.29.
Buy Trade Setup
1. Price is on a bullish higher high/higher low sequence. (Red)
2. Price pullbacks to the demand zone (Blue box) where buyers/bulls are waiting to push the pair higher.
3. Price triggers the buy OTE level. (Optimal Trade Entry)
EURJPY 4 Hour Chart May 1 2025
EURJPY moves higher and hits 3R target hit at 164.29 from 161.80 and closed trade for +249 pips (+3% gain risking 1% on every trade)
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100%, is that we are RIGHT more than we are WRONG.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
At Elliottwave-Forecast we cover 78 instruments (Forex, Commodities, Indices, Cryptos, Stocks and ETFs) in 4 different time frames and we offer 5 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos and we have a 24 Hour Chat Room. Our clients are always in the loop for the next market move.
Try Elliottwave-Forecast for 14 days !!! Just click here –> 14 day trial
