H4 We have one wave down and price action suggesting were in a B wave correction. You can look to buy the internal C wave up but I don't see a buy setup as of yet.
D1 Checkout the idea to get up to speed on the possible scenario's.
W1 The MACD has turned down below the 0 line so I'm still expecting price to break below wave A and complete the structure. Checkout the idea for the complete picture thank's.
Good luck and trade safe!
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A quick update on H1, price in wave B is very deep which suggests we will only see a C wave up before more downside, currently it's a regular flat correction. It is very unlikely we will get a reversal from here. Its important to note a wave B can break the low before giving the C up for a running or expanding flat so it's important to wait for confirmation before jumping in a buy trade.
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Price broke the low in a B wave so I'm looking for the C up as a running or expanding corrective structure. We have impulse up breaking TL wait for flag to form before jumping in.
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I'm looking at a possible bear running flat in wave B, Checkout the new idea to get the complete picture thanks.
@mccd72, The difference between my analysis as a trader compared to most of the top publisher's (marketers) here on TV is as a trader my analysis doesn't change unless the structure changes and 9 times out of 10 if my analysis is incorrect my trading system itself won't get me into a trade where as 99% the top authors that have hundreds of thousand followers and get 100's of thumbs up on one idea, their ideas change on a daily basis and they put out a heap of ideas on a daily basis as a marketing tool to sell some crap. Trading should be boring, if your trading on the edge of your seat your defiantly doing something wrong. Trading requires a lot of patience to wait for a setup instead of jumping in on a hunch or your analysis suggests price should go higher or lower. There aren't that many good retail traders out there because they simply don't have the patience to do this job.
The unfortunate truth is most people that want to be successful traders jump from marketers trading system to marketers trading system looking for some holy grail but in the end they still have to come to someone like me to become profitable!
I haven't updated this idea because nothing has changed, were still in a B wave and only a fool that loses money would attempt to trade a internal B wave in a larger B wave. There simply is no buy setup yet unless you want to trade some crappy support and resistance trading system that some marketer sold you!
@mccd72, Your welcome. A quick update for you on H1, price in wave B is very deep which suggests we will only see a C wave up before more downside, currently it's a regular flat. It is very unlikely we will get a reversal from here. Its important to note a wave B can break the low before giving the C up for a running or expanding flat so it's important to wait for confirmation before jumping in a buy trade.
Ronnaritta
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may i know how to set up the macd as yours in trading view, thank you for sharing
Boon2
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@Ronnaritta, I'm doing a course just after new year where you can get access to everything including the MACD and how I use them, send us a PM if you wish to know more.
dompa
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I'm curios why did you find wave A on the price 5900 and not 3100?
Boon2
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@dompa, I guess your talking about my W1 wave A, the simple answer is because that is the end of the impulse down. You can checkout my D1 idea and count I put out before we got the completion on the W1 wave B.
Boon2
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@dompa, I also put out an earlier W1 idea that may help you to determine why I placed the wave A where I have it.