Wxycorrection
$1K to $450K Risk 20% with 3-1 Reward/Risk Ratio Trade #3 AUDCADHello TradingViewers,
This is my personal trading challenge to grow a small account with an initial capital of US$1,000 to US$450,000 by risking a maximum of 20% on each trade and targeting
a 3:1 Reward/Risk Ratio or higher. Each trade will be carefully planned out and patience will be required waiting for an optimal trade setup. I will document each entry
with position size, entry, target and stop. Needless to say, each subsequent trade will be tougher to take as the capital at risk grows exponentially (hopefully!). I don't
know how this journey will play out but it will be interesting. Follow me to see for yourself.
Trade Risk Profit Balance (starting balance $1000; risk 20%; 3:1 reward/risk)
1 $200 $600 $1,600
2 $320 $960 $2,560
3 $512 $1536 $4,096
4 $819 $2,457 $6,553
5 $1,310 $3,930 $10,483
6 $2,096 $6,288 $16,771
7 $3,354 $10,062 $26,833
8 $5,366 $16,098 $42,931
9 $8,586 $25,758 $68,689
10 $13,737 $41,211 $109,900
11 $21,980 $65,940 $175,840
12 $35,168 $105,504 $281,344
13 $56,268 $168,806 $450,150
Trade 3: Long AUDCAD
Position Size: 0.25 Lot
Entry: 95.52
Target: Open
Stop: 94.90 (or daily close below 0.9549)
Reward/Risk: minimum 3:1
**NOTE: As Trade 2 (USDJPY short) is still open, I'm being more conservative with this position and will close on a daily close below 0.9549 which is the 233 EMA and has acted as support several times.
MARUTI - Elliott wave analysis - correction down It dropped in zigzag wave, so it is possibly bounces in zigzag or flat correction as wave (X) (or B) wave. The current move is the part of (X) wave and bounces up to 7600 to 7800. Then only it will go down in next zigzag down. In bigger time frame it can form ABC flat also and in that case it can go up to 8200 level as alternate count.
$MRK 3-3-3 wxy?the structure looks obvious 3-3-3 within a larger 3 wave corrective structure from Merck's ATH
XLMUSD - Elliottwave analysis - Dump it at new highWelcome guys,
CycleWave is the top author sharing trade ideas based on EW analysis since last five months on the global stocks, currency pairs, cryptos, future indices and commodities. You can follow us to get more trade ideas/analysis.
XLMUSD - It is within complex WXY correction, where 5th of c of Y wave may start soon to end the full correction and thereafter it probably start moving down either in correction or downtrend. So wait for that move to complete along with bearish divergence, which probably good sell set up for next down degree.
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