where you have wave 2 written that is the start of your new wave -- The other part down towards 2 all the way from the top is a C leg -- go to monthly its very clear
RadoFX
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@david311278, so its A B C and the next wave is D ?
UnknownUnicorn782167
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@RadoFX, lots of possibles with elliott wave - not d though as its not a triangle -- classic elliott would go abc then back to 12345 (which could be any of the impulsive waves 135 at a larger degree - each impulsive wave should be divisible by 12345 unless its extended.. it can become quite complex - -- - i suggest elliott wave principle to get a real hang on it and cut out a lot of costly mistakes --- I find its best to keep it simple if you can find a zigzag or flat on higher time frames ie monthly or weekly (something you easily recognise) trade the direction you`ll know it will go and where to on the daily and 4 hour -- thats the beauty of elliott...
RadoFX
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@david311278, cheers David I am a beginner so comments are very beneficial for me thx ;) hope this will trend up ;)
UnknownUnicorn782167
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@RadoFX, i had it like this to break the top and reverse for a while -- then look for another easy pattern that i recognise
UnknownUnicorn782167
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@RadoFX, the count is less important -- getting the direction right is the key-- from 3-4 i saw a abc or zigzag on monthly and knew it was possible for it to break the previous top from there - so whether its a wave 4 leading to a wave 5 is less important than getting the overall direction right. I dont get bogged down counting myself mad i just look for correction i know...
RadoFX
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@david311278, thank you for that David like I said I appreciate corrections from you guys I am only in forex field from around September so hopefully my analysis will get better :)
RadoFX
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@david311278, slowly my analysis will start to make some sense lol
adrianeds
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Hi there, it seems as if it's forming a wave nice work.
UnknownUnicorn782167
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if you mean elliott wave -- No -- wave 2 cannot pass the start of wave 1