Identify and Trade Based on Elliott Waves More Effectively
Identify and Trade Based on Elliott Waves More Effectively
A. Entry and Exit Strategies for Impulse Waves:
Wave 1 (Difficult to trade):
Identification: Generally seen as an initial move after a reversal pattern (double bottom, inverse head and shoulders) or prolonged consolidation.
Trade: It is risky to enter here as there is no confirmation of the trend. You might look for a conservative entry once Wave 1 is clear and wait for the retracement of Wave 2.
