Pattern broken in opposite side! But it was not against the expectation! Now pay attention what I wanted to teach you guys from this idea. May be many of you don't know about this thing! Why it broke upside? let me tell you just look at the picture
This is what I wanted to teach you guys! Read it carefully! It doesn't matter if it come back to structure or not, but the purpose of this post was to teach you guys about this pattern! Hope it will help you guys who were not aware!
thank you!! i like the note you made. i would only view the pattern as a descending channel. like the fact you added about the descending flag cause its new for me and i have seen it happen but just viewed it as a failed channel. now i know its also a descending flag.
OK I have an opinion and you are welcome to it! There are so many ways to trade if anyone believes their way is the true path they should really get over themselves. What I do believe in is results, plain and simple. If WaveExpert wants to count support and resistance levels a particular way and it works then she is correct. If that does not sit well with the purists so be it. I gave up counting the minutia to make sure my wave count met all the criteria. I simply use the AO indicator, every time it crosses the center line it is the end and start of a wave. I add a dash of RSI, a tablespoon of support and resistance, an generous portion of Fibonacci, a pinch of trend line and a good helping of the secret ingredient, Common Sense.
Figure out what works for you and use it, not much point in putting down others ideas because you don't agree with it.