Thanks Steve. Thank you for this massive + 29R today on $/Yen on 3 min chart. This was possible with the market analyzer of Ninja Trader which allows me to follow several currencies at the same time. The set up was a standard TS3... But I chose not to close the trade on first target as the DP support on 15 min chart was not yet touched. When this DP on 15 min chart was reached, we were already on strong STF in 3 min.... So I let the trade follow its way until I was stopped with a 29R profit!!!!!!
Risk Disclaimer Testimonials herein are unsolicited and may not be representative of the experience of other Customers and is not a guarantee of future performance or success.
Elliott Wave rule no:2 stated that Wave (3) cannot be the shortest wave in a complete 5 wave sequence. In practice, Wave (3) is usually the strongest and longest wave. As wave (3) is usually the longest and strongest wave it normally carries
Wave (3) very often is the extended wave, where this swing trades beyond what is considered normal in a completed 5-wave sequence. Again this makes this an ideal wave to trade, because of its large profit potential.