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Imagine navigating the markets by following the intentions of major institutions that plan their moves. To succeed, it’s crucial to be realistic. One reality of trading is that operating without considering counterparty liquidity is equivalent to gambling. Elliott waves, like any market analysis technique, require validation. The ability to identify the end of a wave in live markets comes with experience, observing numerous examples, and perfecting the method daily.
It includes analysis to detect the market's direction from the start of your trading session, the exact moment to enter the market, a clear stop loss, and techniques to follow the price during the session. This article presents a day trade on the SPX500, breaking down the process step-by-step, from identifying the entry point to setting the stop loss and maximizing profits.