Strategy Description
The EWPT Strategy is being traded using multiple timeframe analysis, either short term using H4, H1 & 15m charts, or long term using Weekly, Daily & H1 charts. It focuses on 2 types of Elliott Wave patterns, ABC corrections (simple or complex) and 5 wave impulse waves.
Each pattern must complete for a trade to be considered and then we trade the confirmation of it. For example, once an ABC retracement is completed, the market tends to move back to retest the wave B end, or once a 5 wave move is done, the market tends to come back and test the end of wave 4.
Once the pattern is identified and targets set, trades are taken based on whether the opportunity is with the trend or countertrend.
Elliott Wave Opportunities
An Elliott Wave analysis of the market is completed to determine where in the structure the market currently is. Opportunities for trading are either the end of a correction, be it C wave or 4th wave or an end of the impulsive 5th wave.
