Mark Newman

Day trader | Elliott wave only | Daily FX market review

[Mark Newman @marknewmanwave]

@MdsMadson @TheEuroTrader1 Same!

[Mark Newman @marknewmanwave]

@erpls17767348 @TheEuroTrader1 🙌🏽

[Mark Newman @marknewmanwave]

I’ve tried trading ES myself and kept hitting the same problems. While Elliott Wave works everywhere, some charts are much easier to read than others.

There are plenty of markets out there — it’s worth finding the ones that suit you.
Mistakes happen, but maybe it’s smarter to do proper backtesting for a couple of months instead of blowing up an account again

[Mark Newman @marknewmanwave]

I see a lot of people making the same mistakes on $ES and still continuing to trade it.

There’s no point forcing trades on instruments you don’t understand well. If you keep struggling with the same asset, either your system needs work or that market simply doesn’t fit you.

[Mark Newman @marknewmanwave]

Yeah, it’s about using what works best for you.

Besides EW, I also look at custom RSI, Fib levels, liquidity, and some basic TA.

Not trying to argue, just my observation — but once you have a solid base in Elliott Wave, most people who use it seriously tend to see the structure quite similarly.

[Mark Newman @marknewmanwave]

@joseftrades @Tradesyncer I find $ES more difficult to read then $EURUSD or $XAUUSD etc. It's always kinda tricky. Even though I can read this particular situation, I prefer stay away from $ES

[Mark Newman @marknewmanwave]

@TheEuroTrader1 I just posted about it yesterday! 💯

[Mark Newman @marknewmanwave]

@fannitrades nice one

[Mark Newman @marknewmanwave]

#XAUUSD
Gold is slightly behind — wave 2 hasn’t begun yet, and we have a small divergence building in its favor.

I’d wait for this upward move in wave 2 before entering wave 3. It reduces stress and improves the RR.

Target adjusted based on wave 1 (marked on the chart). Stop above the start of wave 1 or the high of wave 2.

[Mark Newman @marknewmanwave]

As soon as we get a downward move after the C wave, we can enter short with a stop above the start of wave 1 or the end of wave 2.

I’ve adjusted my target: I’ll be aiming for the top of wave 3 (dinamic target) + the Fibonacci zone suggests a good area. With this setup, the RR is around 3. Marked everything on the chart.

[Mark Newman @marknewmanwave]

Daily review☕️
#EURUSD 30m TF.
Yesterday’s plan played out nicely — if you took the long, let me know.

Today we have more information: we’ve already seen sub-wave 1 and part of sub-wave 2, which allows us to adjust both the targets and entry point.

[Mark Newman @marknewmanwave]

For a precise entry, we need to wait for the completion of wave 2. It will most likely form another upward C wave — the key is that it shouldn’t break the invalidation level (the start of wave 1).

Additionally, RSI is oversold and we have a small bullish divergence on the lower timeframe, which fits perfectly for this C wave.

[Mark Newman @marknewmanwave]

The biggest advantage of Elliott Wave is clarity and structure.

While Smart Money Concepts focus on liquidity and order blocks, they remain quite subjective — different traders can see completely different setups on the same chart.

Elliott Wave, on the other hand, gives you clear rules, invalidation levels, and logical targets based on wave relationships.

EW helps you understand where you are in the bigger picture and where the market is likely heading next.

Without a structural framework, it’s easy to get lost in subjective interpretations.

[Mark Newman @marknewmanwave]

@Jeorjiotrades Man your take is way too high. Close it now. There will be an impulse down from this zone

[Mark Newman @marknewmanwave]

@bubu_forex @Kelvintalent_ @Techriztm Close long and wait for a short confirmation man

[Mark Newman @marknewmanwave]

@aw_trades_ Get rest and comeback stronger

[Mark Newman @marknewmanwave]

@AthenTrades What did you trade?

[Mark Newman @marknewmanwave]

@Benjamin_SMC I'm printing https://t.co/kh3kDu3rbu

[Mark Newman @marknewmanwave]

$EURUSD
If you went long today, now might be a good time to take profits or close the position☕️

[Mark Newman @marknewmanwave]

@tradericch Earlier today I outlined that we should first get a small push higher (which has now happened), before continuing lower in the 5th sub-wave toward 1.13244 and 1.1287