GBPNZD - Clean channel, low risk/reward. Looks good.
Updated
If my count is correct (12345), I believe we have a pretty clean long position here..
(Can a '12345 corrective' come immediately after an ABC? I'm only beginning to learn Elliot rules.)
Channel looks good, take a long with a stop shortly below the 2 and 4 position, below the channel. I feel like if that doesn't hold there isn't much evidence for a long.
About 300 pips move, if it makes it all the way!
I'll be looking to exit around the median line to lock in profits.
(Can a '12345 corrective' come immediately after an ABC? I'm only beginning to learn Elliot rules.)
Channel looks good, take a long with a stop shortly below the 2 and 4 position, below the channel. I feel like if that doesn't hold there isn't much evidence for a long.
About 300 pips move, if it makes it all the way!
I'll be looking to exit around the median line to lock in profits.
Trade closed: target reached
Nailed the levels pretty damn close to exactly in this analysis! Happy with the results, of course. Will be looking for more 'channel' trades with similar volume profile interaction.
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