"I have found the EOD of MTPredictor to be excellent, as the developer gives a daily comment including the entry/stop/exit points precisely. The developer, Steve Griffiths, is one of the most responsible persons in the business. The final question is whether one can make money out of this and my answer is a definite YES"
KC, Private Trader
The Holy Grail trade setup is a name I have given to what I believe is the best Elliott Wave setup there is. From reading the Elliott Wave Rules and Guidelines, you will have already seen that the strongest Elliott Wave is Wave (3), this is Guideline No: 1 so that is the best wave to trade. To enter at the start of the Wave (3) we need a method to enter at the end of the Wave (2). From Guideline No: 4 we have seen that Wave (2) usually unfolds as a simple ABC. So based on this, if we look to enter a new trade on the end of a Wave (2) that has just unfolded as a simple abc correction, then we are in the best place to then trade the strong Wave (3) swing.
So what points do we need to look for ?
First we need to identify an important high or low, this is the starting point. Then we need to identify the initial swing off this important high or low, this is the Wave (1). Then we look for the first correction following the initial swing after an important high or low, This is the Wave (2). Then this initial correction should unfold as a simple abc pattern.
Let’s see what this looks like:
For a more detailed look on a real-world example here is a short (9 min) video showing this unfolding on a:
As you can see, getting in at the start of the Wave (3) allows you to keep your initial risk small, to then take full advantage of the Strong Wave (3) swing. Now you can see why I call this my “Holy Grail” setup, not because it has a high % of winners, but because it has the potential for Profits that are much larger than the initial risk.