Wave 5 Reversal Strategy
Reversal
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Strategy Name:
- Wave 5 Reversal Strategy
Strategy Type:
- Counter-Trend
Conditions for Use:
This strategy is the 1.61 Head Fake Strategy. There is no difference in the execution rules at all. All we’re doing is using Elliot wave to frame the move with additional context and, potentially, give us more of an understanding what the market is doing.
At most points this post will refer to the original post. Only adding a few additional comments relating to the Elliot setup.
Conditions for Use:
- Refer to 1.61 Head Fake Strategy.
Planning Entries:
- Refer to 1.61 Head Fake Strategy.
Planning Stops:
- Refer to 1.61 Head Fake Strategy.
Planning Targets:
- Refer to 1.61 Head Fake Strategy.
Typical Win Path
-Everything really is the same in this setup. Something knowing this might be an Elliot wave into ABC means we have a few more details on how the move may form. For example, we know we have a great trade if we can find the end of “B”.
- It also tells us although the C move will look strong it will likely be a false breakout and our ideal plan here is then to use our Elliot Wave 2 Strategy.
Typical Loss Path
-Refer to 1.61 Head Fake Strategy.
Why Strategy is Expected to be Successful:
- Refer to 1.61 Head Fake Strategy.
Why Strategy is Expected to be Successful:
- Refer to 1.61 Head Fake Strategy.
Known Risks and Weaknesses:
- Refer to 1.61 Head Fake Strategy.
Trade Plan Execution
Refer to 1.61 Head Fake Strategy.
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