Hi Venzen,
to determine the wave 3 I use Awesome Oscillator in that way, that I use that TF that produces between 120-140 bars for the whole wave. And AO confirms my view.
Here is a picture with both AO and MACD in default settings. Both tell the same in this case
Yes, the MACD you added corresponds very well with AO. So, I would agree with the label 3 as is, and 5 where EWI have labeled wave 3. The Fibs look ok. It seems that the two occurrences of similar AO/MACD readings in a single impulse perhaps fit with the extension of wave 5? Maybe that explains it.
The subsequent corrective action is puzzling and difficult to label though. From a trading perspective I am not going to attempt to anticipate the next larger degree move. Once PA reveals its next intention I will start counting again
Are you sure the wave label 1 (down from top 5) is correct? That looks very much like a zigzag. Here is an older count of mine which assumes that all of this is a drawn out upward correction. Our counts are very different but this is "a good thing", right? Recent price action seems to me to indicate higher highs will follow once wave ((X)) is in...
cryptocurrency everytime
