dojitrader

5 Wave Up From A 3 Drive . . . ???

Long
FX:EURGBP   Euro / British Pound
8
Looking to add positions to the related 3 Drive pattern
that was just too painless. I guess that soothes the trades
that are nothing but agony.
5 waves being projected with 5 = 1 and then buying the
completion of a 3 wave correction, probably a zig zag or
maybe a flat of some kind ending near the
4th wave of one lessor degree.
Will not take this trade if it is too close to NFP and there
is the possibility that this will retrace to .618 which is
a common fib for a wave 2.
A 5th wave extension is also a possibility.
Time to Wait ~~~~ Patience might equal Potential ???
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