NZD/USD Week 3

1st Trade

4 hour chart: Wave 3, BDB, AO divergence
Hourly chart: Wave 5, BDB, AO divergence
15 min chart: Wave 5, BDB, AO divergence

so we're in wave 5:5:3, entering wave 4 abc correction..
possible target 0.7140-0.7183 (38.2 - 50 % fib retracement of wave 3)

Sell @ 0.7302 (BDB), Protective Stop Loss @ 0.7321 (one tick above BDB high)





2nd Trade

Enter wiseman 2

Sell @ 0.7291, Protective Stop Loss @ 0.7318

Let's try using reverse pyramiding (look at trading chaos 2nd Edition)








Close 1st and 2nd Trade

hit my stop loss
1st trade total loss is 16 pips

2nd trade total loss is 27 pips x 3 lots = 81 pips













3rd Trade

Another Bearish Divergent Bar

Sell at 0.7315, Stop Loss at 0.7344









4th Trade

Wiseman 2

Sell at 0.7314, Stop Loss at 0.7344







Close my 3rd and 4th Trade

Hit my stop loss

3rd trade total loss is 29 pips
4th trade total loss is 30 pips x 3 lots = 60 pips











5th Trade

Break down fractal
Sell at 0.7286

Let's use previous five bar high to protect the loss..

Ride the trend with trailing stop.









Close 5th Trade

stop loss was hit
total loss of 10 pips












Chart Update (no position)

Always put your protective stop loss :)

careful next time when trade wave 3 to wave 4

now which elliot wave, no idea hehe, wait for the market to chill... :)