RZAMK wrote: Wed Apr 08, 2020 3:08 pm ImpLaNT;
Regardless of the rules of the Elliott wave, which I am not fluent in, will this position be taken according to your system and will hit TP?

1. We open a position after the formation of the 2nd point, not 4th.
2. We do not open positions against the line of possible bias. In this case, it says that buys are impossible. Of course, I understand that this line is also repaint, like all zigzags, and there may be a 5th point above the 4th. But it’s better not to break the rules ! I recently violated and got -255 pips on HK50.
   And I would like to say once again, that trading on major pairs and crosses, which include instruments of about the same value in relation to the dollar, is extremely difficult and inefficient! That is why instruments with a high ADR value are selected, and if crosses, then only with a maximum spread of the instruments, included in their composition. For example, GBPJPY - expensive in relation to the dollar, GBP, and cheap JPY. This condition provides cross good volatility.

In conclusion, I want to tell you HUGE THANKS for your participation. Your statement about the possible use of the “order Buy” and “order Sell” lines has led me to very deep thoughts, the result of which I am now testing in practice. I really hope that it will be positive. Thanks again.