W.B
Usually a three wave pattern.
Wait for at least a 50% retracement of related W.A before entering a trade
PRICE
> 50% < 78.6% of W.A
TIME
> 50% < 100% of W.A time
What you have is an impulsive wave down on EU Wav IV was 38% of Wav II & time was 1.75% of wav III.
On the EU 1hr I only count 3 waves so far I, II, III (or still in III) OF wav V
Since wavI is shorter than wavIII Wav V can be extended.- so trading corrections can be very risky mon/tues.
Labeling isn't as important as knowing the basic rules though-- 5 waves one way and three the other-- when you get 5 waves in both directions get your count right- its either a reversal or wav IV.
Usually a three wave pattern.
Wait for at least a 50% retracement of related W.A before entering a trade
PRICE
> 50% < 78.6% of W.A
TIME
> 50% < 100% of W.A time
What you have is an impulsive wave down on EU Wav IV was 38% of Wav II & time was 1.75% of wav III.
On the EU 1hr I only count 3 waves so far I, II, III (or still in III) OF wav V
Since wavI is shorter than wavIII Wav V can be extended.- so trading corrections can be very risky mon/tues.
Labeling isn't as important as knowing the basic rules though-- 5 waves one way and three the other-- when you get 5 waves in both directions get your count right- its either a reversal or wav IV.