Coreg's EW+HP+D/W Range

Quoting ScalaFX

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update on GU please, still learning

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Quoting Coreg2004

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{quote} ScalaFX, there is buying madness. There has been no retracement for the last 2 days, so the wave count is impossible to be reliable. 1.2915 is the max for today as a 200% extension of the prior day range. {image} Update after CPI release.{image}

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Quoting ScalaFX

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{quote} Ok, but this is extencion of wave 5 ?

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Quoting Coreg2004

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{quote} A possible end of wave 5 in S&P 500 futures was reached. If it's true the test of 5500 level will follow. {image}

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Quoting Coreg2004

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{quote} ScalaFX, daily is more reliable for higher targets. 1.2960 ext of wave 5. As I said it's madness, on GU, GOLD, and S&P 500 for 2 days we have frontrunners, meaning people buy before, not waiting for the price to get to the retracement zone. {image}

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Quoting birdland

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{quote} often madness starts when a new trend starts?

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Quoting Coreg2004

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{quote} S&P 500 max out for wave 5...now we wait for exuberance.{image} 2 trades so far...{image}

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Quoting Coreg2004

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{quote} ScalaFX, daily is more reliable for higher targets. 1.2960 ext of wave 5. As I said it's madness, on GU, GOLD, and S&P 500 for 2 days we have frontrunners, meaning people buy before, not waiting for the price to get to the retracement zone. {image}

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Quoting Coreg2004

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{quote} Bones, if your scenario, is valid and plays right now, plays out fully the GU run to the upside can be much bigger. On my daily chart, Friday's close above the trend line (marked by a magenta arrow) confirmed a bearish butterfly in play With the target at point D @1.3448. Of course, we have smaller patterns in play below that level, too, which can hinder the advance. GU's failure to stay above the TL or 1.2723 invalidates the setup, although it can be only temporary.{image} The dollar chart ...{image}

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Quoting Vincent1

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Hey Coreg, what do you thinlk about a possible AB=CD on GBPUSD Daily, starting from October 2023, and target around 1.31 ??

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Quoting rehmatkhan00

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The fifth and final wave of EU may end at 1.1000. {image}

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Quoting Coreg2004

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{quote} rehmatkhan, this one is tough. I thought about it yesterday and decided to go with Fibonacci ratios to establish the potential end of waves. Your count is one of the scenarios to unfold. I use Fib. ratios when labeling can be done correctly (when the pattern is not finished yet) in 2 ways. {image}

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Quoting rehmatkhan00

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{quote} The price can shoot upto 1.1000 level if the fifth and last wave extends. However if it doesn’t extend then it can still go to 1.0940-80 which would be multiple of 0.618 fib number. Let’s see how the price unfolds in the next few days.

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