GBPJPY: Understanding Wave Structure Gives You The Edge

19 dic 2016

This trade is a very good example of how understanding wave structure can give you a powerful edge in trading. But know that learning and more importantly implementing wave structure into your trading takes much learning and work! I'm not going to sugar-coat that fact like others and say it is easy! It is not. It requires WORK! Yes, that's right...WORK! Ever heard of it? For those of you looking for short cuts, holy grails or to be spoon-fed trades, trading is not for you! Save your money and go find a job! I put in A LOT of work into my charts and analysis pouring over charts for hours. So when lazy people demand that I give them my work for FREE....think about this. You are asking me (and others here) to GIVE you what we worked hard on and make you money while you do NOTHING! Sorry! We don't WORK for you! Think about that before you rant about why we won't GIVE you our trades! The lesson here is that you need to LEARN for yourself how to trade and not become dependent on others! That is why I take the time to post here. Not to GIVE out trades but to teach how to trade! For that purpose, the people here at Tradingview are commended for providing this platform to do so!

So with that being said....here's the breakdown of this trade and the what and why of my projections on the price movement.

I've been tracking this pair (and many others) for weeks as it kept rising and rising in what can be said now to be a strong trend. Well, all trends must end. But how to know when and where? First, it's not possible to know with 100% certainty. But if you know wave structure, you can use it to get a best guess. So in breaking down this impulsive wave trend up, you have to dig into it on multiple levels in order to break it down and discover what it is doing and where within the trend it is. Doing this is how I came up a trade plan. Remember that analysis is just one part of a successful trade. After the analysis is done, you must then have come up with a trade plan BEFORE you ever execute the trade!

So what you see here is that I circled the level where I thought that prices would get to before we saw a reversal. That level is the 1.618 extension of the minor wave (3) of the ending wave (v). As you can see, prices went there EXACTLY and reversed! I placed a SELL order right there and watched as prices spiked up there and was immediately rejected. Seeing this, I knew that level would hold and there you see that prices have reversed from there. So far, my members and I are already up over +260 pips on this trade and looking for MUCH MORE to come. Of course, there are other methods I use in my analysis besides just wave structure but once you understand wave structure, you have a strong edge.

23 dic 2016

Nota

Hope you all at least saw the potential and got in when you could! We got in MUCH earlier when I alerted my subscribers and are now up over +400 pips! But if you did get in after I made this post, it has dropped over +100 pips to where it is now. But be careful! I do expect a pullback to occur at the coming MAJOR SR support zone coming soon!

28 dic 2016

Nota

Are you still not convinced that wave counting is that important to know? Wave counting combined with my proprietary system pinpointed this trade and we are now up over +470 pips since I issued the trade on 12/14, 14 days ago! And it's still going!

29 dic 2016

Nota

Now over +540 pips! But where will it stop? There is now a POTENTIAL Cypher pattern that is in play. That could indicate an area where may be good to take profits. If it gets there. that's over +700 pips my members and I will reap off this trade! Did you hit this trade?