This is why it's so difficult to trade wave 4's! They are so notoriously hard to predict. Went to sleep and everything was looking just perfect.....then wake up and find that my stops had been triggered! Oh, well. That's how it goes sometimes. Took a -53 pip loss on this trade as I ha my stops just above the C point of those patterns.
Now only thing to do is to re-analyze this pair ans try to catch it again.....
Hi, My stop has been missed by 4 Pips, what do you think is it better to hold or close in -50 Pips now ?
EverythingForex
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Never move your stops. And always let your stops take you out of your trade. You put your stops where you put them for a reason. Presumably, one of he reasons is that you could afford to take loss at wherever it is you put your stops, right? So better to let the trade just go until either it hits your stops or hits your take profits. The only reason to move your stops is to protect your profits after a trade has moved in your favor. That's my advice.
EverythingForex
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Sorry. I meant to say to never close your trades prematurely and let your stops take you out of your trade. But also never move your stops either once you have placed them.
Sugito_Laras
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please look from different angle with Elliott wave principle in Tf bellow D1 (4H) and use price action setup in D1 to make sure decision. here why I stay and make a sense to hold with the bull like your analyst from bullish bat last week. sorry, it just my opinion, if you mind, please ignore it. thanks and best regards
MY AGREE WITH YOUR COMMENT.