Trading is a game of probabilities. How may alternative structures can you draft?
The basic rule - keep it simple and do not overanalyze.
Tips:
- If you see a “jigsaw” - most likely, this is wave B. Or X.
- Impulses tend to respect channels. And some other basic rules, including 3 key rules for the impulse as stated by EWT.
- always refer to the major t/f before making a conclusion. There will be always!!! a couple of alternatives.
That is. Coming back to the daily chart, we may draft an alternative structure to the one I have posted some time ago:
- 5 waves down with the extended wave 3
- three waves up - that is wave W
- three (complicated) waves down - wave X (a “jigsaw”)
- expect three waves up to complete a larger three wave pullback (WXY) to the impulse, before resuming the major trend.
Simple? Not so. But you see a refined scenario. That should be traded accordingly, as soon, as the structure matures.
(Or, taking short-times trades within this trajectory kept in mind)
Good luck!
The basic rule - keep it simple and do not overanalyze.
Tips:
- If you see a “jigsaw” - most likely, this is wave B. Or X.
- Impulses tend to respect channels. And some other basic rules, including 3 key rules for the impulse as stated by EWT.
- always refer to the major t/f before making a conclusion. There will be always!!! a couple of alternatives.
That is. Coming back to the daily chart, we may draft an alternative structure to the one I have posted some time ago:
- 5 waves down with the extended wave 3
- three waves up - that is wave W
- three (complicated) waves down - wave X (a “jigsaw”)
- expect three waves up to complete a larger three wave pullback (WXY) to the impulse, before resuming the major trend.
Simple? Not so. But you see a refined scenario. That should be traded accordingly, as soon, as the structure matures.
(Or, taking short-times trades within this trajectory kept in mind)
Good luck!