1 + 11 Wave Trading

Hello everybody,

I created this journal to record my daily trading activity. I will post randomly about anything related or unrelated to my trading. Trading is a lonely business, perhaps keeping this journal will make me busy enough during boring wait and see periods (which is majority of times).

I Trade mainly using Elliott Wave analysis
I Trade Gold and 11 currency pairs (hence 1+11):
Metal : XAUUSD
All Majors: EURUSD. GBPUSD, USDJPY, USDCHF, USDCAD, AUDUSD, NZDUSD
Crosses: EURJPY, GBPJPY, AUDJPY, EURAUD

Everybody are welcome in this thread, just be nice to each other.

I think USDJPY short time correction is ended (EOW 4)

Upward move to EOW 5 is expected

Already in Long Position near the bottom

EURUSD

Still holding short positions from yesterday

When you look, think, and ride the market as waves
Big waves, small waves, tiny waves, tsunamis
You will never lost and frozen by market movement
You will always know what is current PA relative to bigger and littler pictures
You will know the likeliness of price directions for the next few hours, days, weeks, month..
Thus adding your edge
Increasing your probability to trade in the right direction of the market

Here is my USDJPY trading approach

Long at 1st potential EOW 4
If price go lower, will add Long at 2nd potential EOW 4
If price still go lower, will add Long again at Max W.4 low

I don't call this adding to losing positions, but buying at better prices.
As long as my reasons for entering this trade still valid, the multiple Buys are justified

The trade will invalidate as soon as price violated EOW 2 by 1 pip+ spread
When this happen, I must did the waves counts wrong, so there is no reason to remain in this trades.
Hence my SL 1 pip + spread below EOW 2

Next step is reassess my USDJPY waves counts and wait for better opportunity

XAUUSD
Little tricky here. If price break W.C (1318.02)
Wave Count must be reassessed

Perhaps Gold will undergo complex correction

Both EURUSD short and USDJPY Long developed nicely

Here USDJPY trade commentary

Seem like the First potential EOW 4 indeed the low.
Will move SL to BE + some profit when W.4 confirmed (price break W.3 extreme (111.118)
Minimum and or Typical EOW 5 target will be reached with highest probability on the next 4-5 bars from current bar. ( since the bar is H4 and current bar last 1 hour more, the target probably will be reached in 17-21 hours, i.e Monday)

Took short on XAUUSD earlier

Cable Short

AUDUSD and NZDUSD ready to drop?

I really like this song, haunting yet beautiful

EURUSD this week

Gold Today

My Bitcoin Long

Gold short
Targets are white dash lines

EURUSD Short
targets are white dash lines

Trade going well
near target 1

Target 1 Reached, close half position
move SL close to market

Setup Still valid
EURUSD Ready to drop next week

Adverse movement up, but setup still valid
expect gold to drop next week