On July 5th and 6th I posted 2 separate buy trade setups on social media @AidanFX “LONG/BUY GBPUSD at 1.2707 Stop Loss at 1.2687 Target at 1.2747 (1:2RR) 1.2767 (1:3RR)” and “Added 2nd LONG/BUY GBPUSD at 1.2697 Stop Loss at 1.2687 Target at 1.2747 (1:5RR).”
Trades were taken based on demand zones, market structure and the current EWF Elliott Wave count.
GBPUSD 15 Minute Chart July 5 2023 (1st BUY Green Entry)
GBPUSD 15 Minute Chart July 6 2023 (2nd BUY Blue Entry)
1st GBPUSD BUY entry (Green) at 1.2707 hits the propsed 1:3RR Target at 1.2767 for +60 pips (+3% gain) and 2nd GBPUSD BUY entry (Blue) at 1.2697 hits the proposed 1:5RR Target at 1.2747 and extends even higher and hits the 1:8RR Target at 1.2777 for +80 pips (+8%) for a combine total of +140 pips and a combine total +11% 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 GBPUSD move higher. 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
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