Hey traders, I put most of the details on the chart. After seeing a wave 1 impulse, its nice to get in above highs with SL below root of wave 1. Alternatively, I enter above wave four if I don't quite catch the root of the first wave in the PRZ. This is a riskier approach because you are banking on the pair not retracing and shooting straight for target (which is common with third wave impulses). Let me know if you have any questions. Cheers
Trade active
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PS: You can see my original analysis here: 
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Moving first position to breakeven. Second position pending sideways correction.Note
GRANULAR UPDATE: Hey folks, it looks as though the first wave of our third impulse is completing. Depending on how long this bases, we may take profit or add on new highs. This is where it is important to watch price action on the lower time frame. Cheers!Note
I added to the position here:
Exiting both positions at slightly below B/E for the addition. First impulse has been overlapped by the fourth wave which indicates further downside. I may enter long again tomorrow.
1st Position: +19.5 Pips
2nd Position: -2.5 Pips
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Total: +17 Pips
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.