Wednesday October 18 at 13:45 ET
On Monday October 16 at 5:00 ET when the price was about 104.70 we entered the prediction trade signal Signal #210 Buy CAD/JPY at 104.15
The price subsequently fell to the predicted entry price on October 17, and continued on past that price to 103.72, 6 pips past our stop. However, at the time the entry was triggered the stop should have been adjusted to 103.59 according to our system. Furthermore, an Elliott Wave analysis indicates that the downwards trend was not yet complete at the predicted entry point, and that another impulse wave was indicated. The next high probability reversal target should then have constituted the entry point. That point was at 104.90, which would have been the optimal entry point according to our system, with the stop at 104.59 or even lower. So we are technically still in this long trade, which has risen so far to 104.74, but we entered at a sub-optimal price, 25 pips higher than we would have entered had we monitored the situation at the time of entry and made the correct determinations.
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Previous trade signal:
Monday October 16 at 5:00 ET
Trading Wave 5 up:
Trade Signal #210 Buy CAD/JPY at 104.15
Stop is 103.78
Target is 106.40
Risk is 47 pips
Reward is 215 pips
Reward : Risk ratio is 4.6 to 1
For research purposes only.
On Monday October 16 at 5:00 ET when the price was about 104.70 we entered the prediction trade signal Signal #210 Buy CAD/JPY at 104.15
The price subsequently fell to the predicted entry price on October 17, and continued on past that price to 103.72, 6 pips past our stop. However, at the time the entry was triggered the stop should have been adjusted to 103.59 according to our system. Furthermore, an Elliott Wave analysis indicates that the downwards trend was not yet complete at the predicted entry point, and that another impulse wave was indicated. The next high probability reversal target should then have constituted the entry point. That point was at 104.90, which would have been the optimal entry point according to our system, with the stop at 104.59 or even lower. So we are technically still in this long trade, which has risen so far to 104.74, but we entered at a sub-optimal price, 25 pips higher than we would have entered had we monitored the situation at the time of entry and made the correct determinations.
_______________________________________________________
Previous trade signal:
Monday October 16 at 5:00 ET
Trading Wave 5 up:
Trade Signal #210 Buy CAD/JPY at 104.15
Stop is 103.78
Target is 106.40
Risk is 47 pips
Reward is 215 pips
Reward : Risk ratio is 4.6 to 1
For research purposes only.