Possible dip to
1.4321
1.4311
1.4308
1.4307 at the lowest.
lower than this, my wave count needs to be re evaluated.
EG
1.4321
1.4311
1.4308
1.4307 at the lowest.
lower than this, my wave count needs to be re evaluated.
EG
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Dislikedwhat retrace are you referring to and from what level is your trade?Ignored
DislikedIm waiting for the wave 5 down from this possible wave 4. Or maybe wave 2 down from this possible wave 1.Ignored
Dislikedif you look at that on the 4hour TF you would see that it can also be a Leading Diagonal triangle. so that is the other possibility which I took.
The move down may be a retracement which somehow dipped to 61.8% retracement.
move down was in 3 waves. so possibly abc.
counting the waves up now on the lower timeframe.... 5minutes seems to indicate some more move up.
incase you did not notice.... when I said more room down... price went up. )
EGIgnored
Dislikedstill holding a short that entered a drawdown from 1.4363 instead of having +5.
nursing to recovery before going back to Buy Trades
and still counting waves in the lower TFIgnored
DislikedLikely completion of 5 waves up with wave 3 in extention
WO 1.4109
W1 1.4210
W2 1.4133
W3 1.4376
W4 1.4273
W5 1.4413
W31 1.4232
W32 1.4168
W33 1.4338
W34 1.4251
W35 1.4376
Still waiting on that retracement to
23.6
31.8
50.0
61.8
watching the development of the waves.
EGIgnored
DislikedIm still trying to figure out the current wave up from 1.4109? It can't be a correction wave4 since this is a 5 wave structure with the extended wave3?
Man...this is real daunting work. EW is an excellent forecasting tool but a real challenging one.Ignored
DislikedIt still can be unless the move up retraces the previous wave 3 by more than 61.8% which I bwelieve it still has not.
so while this hasnot overlapped with wave 1, then a 5 wave motive structure is still possiblewith the view that a zigzag correction structure is a 535.
this means we see a 5 wave structure up thewn a 3 wave retracement down before we see another 5 wave structure up again.
bear in mind the difference in wave structure and composition of the different corrective waves.
add the various forms of triangles too
EGIgnored
DislikedEG, how long have you been using EW as part of your analysis? I just picked it up 3 months ago...been trading for 2 years without EW and Fib which now i realise how important these 2 tools is. Well, lets just say im learning the hard way. Trying to get better with EW every single session.Ignored
DislikedHmm...doesnt looks good on my short too. Its heading close to 1.4412. But im holding on my short until it either hits 61.8 level or ovelapping previous wave1.Ignored