On December 15 2022 I posted 2 SELL GBPJPY trade setups on social media @AidanFX “Sold GBPJPY at 168.45 Stop Loss at 168.85 Target at 167.65 (1:2RR) 166.45 (1:5RR)” and “Added 2nd SELL GBPJPY at 168.21 Stop Loss at 168.51 Target at 167.61 (1:2RR) 166.71 (1:5RR).” Trades were based using supply zones and on market structure breaks.
GBPJPY 1 Hour Chart December 15 2022
1st SELL entry at 168.45 (Green) and 2nd SELL entry at 168.21 (Brown)
First GBPJPY SELL entry (Green) at 168.45 with Stop Loss at 168.85 hits Target at 166.05 for +240 pips (+6%) and second GBPJPY SELL entry (Brown) at 168.21 with Stop Loss at 168.51 hits Target at 166.11 for +210 pips (+7%) for total of +450 pips and a total of +13% gain risking 1% on each individual 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. If you followed me on social media you too could have caught the USDCHF move lower. 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
Back
