dojitrader
Long

3 Drive Pattern Just Above The Big Figure ???

FX:EURGBP   Euro Fx/British Pound
204 2 1
I was closely studying traderWgun EW count,
***See link in related ideas***
(he understands complex corrections very well !)
when I noticed this 3 Drive completing in the same area.
{{3 drives are everywhere this week. Does it mean
something for the markets ?}} I digress ~~~~~
The 3rd 1.272 entry is right about current price @ .8040 or so,
but, I'm thinking that the "Big Figure" .8000 will be to much of a
magnet to ignore. Thus, the lower entry - even the magnet of the
. 786 retracement might prove very strong, so, I'll be watching the
candlesticks on this and lower time frames for some sort of entry
trigger with the lowest risk possible. I'm in no hurry and if I miss
the bottom and this really is the bottom we should see an obvious
5 waves up - on the lower time frames - which will yield a clean entry
on a 3 wave correction.
Additionally, this could be a profit potential of 6 figures as 3 drive
patterns commonly retrace all of the previous 3 drives .
Fingers crossed ~~~~~~~ Patience shall be a virtue !

Related Ideas

fourkey2013
2 years ago
nice we are here now whats next/?
Reply
dojitrader fourkey2013
2 years ago
As I said in the comments, I'm in no hurry to jump in unless
the candlesticks trigger some kind of entry and so far that has
not happened.If I miss the bottom I'll look for a 5 wave up on the
lower time frames and then buy the 3 wave correction.
Looks like this has turned into an attempt to catch a falling knife
and I do not want to get cut so, an abundance of caution is
the watch word.
Best wishes !
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out