We had a perfect Elliot wave in this last 10 week, now i will be looking to go long, i will be looking to go long in a 50% retracement of the last 4hr candle since it had a big rejection from that 1.44400 montlhy support, a more conservative approach would be waiting for the daily candle to close and if a pin bar is formed, enter long in a 50% retracement from that candle.
** Is very similar to my last Elliot wave Trade that i took in EURCAD which i also publish it (made about 1100 pips :D)** Good luck :D
Hi I could be wrong but your wave 3 looks very short in comparison to wave 1 & 5. May be different counts is at play.
AlexBalboa
⋅
@DanV, you are right and its said that the third wave is bigger than any other, but we can get variations and get a fifht extanded wave wich will be the most powerful, for this to be valid the third wave will be a 161.8 extension from wave 1 which we have and the fifht wave will be 161.8 extension from the movment 0 to 3 or 0 to 4 which we also have :D
DanV
⋅
@alexzc636, I understand the 5th wave can be longer if extended. But just the look of this seems like wave 3 is shortest even if you start the count for wave 1 from 1.4650 or 70 area. Anyway thanks for replying.