Disliked{quote} Do not you fell that is very dificult after FOMC candle to determine exact levels... as each broker is giving diferents highs???? What do you think about the following structure? {image}Ignored
Hi Lavanda,
the high was around 1040 on Netdania, on Dukascopy I had 1035.
There is no need about to be religious with EXACT levels. I had this discussion over and over with Schickeria. Sometimes EXACT fib-levels are hit, other times not (undershoot/overshoot).
There is simply nowhere in the world scientific proof that fib-levels have to work, not to speak about "hits to the pip". When there would be such kind of "need" in the fibs, some clever programmer or multi-billion banks would have been able to decode the "secret" and would be headed to world domination.
Use fibs as guiding light and take them with a grain of salt.
Regarding the shown count:
the structure should develop a WXY pattern.
Let me ask you a question: how can one know beforehand a WXY structure?
Let me explain: a WXY is ABC-ABC-ABC
But a Flat would be ABC-ABC-1-2-3-4-5
So the advice is to first try to count simple structures, and eventually switch to more complex when there is need.
Same with triangles lately:
in the past few months I have seen so many counts which suggested triangles, although only wave A and B was visible
But back to the count:
all in all I am in the same scenario. Structure may get more comlex and time consuming, since wave 2 was short and simple.