it apears to be a double zig zag correction that has ended with the start of a new cycle
Comments
AlphaxRx
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ABCD is use as counter-trend, and not as main trend. Your chart looks wonky
DonkeyTrades
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LOL I THINK YOUR WONKY
DonkeyTrades
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ITS NOT AN ABCD ITS AN ABC, DUH
AlphaxRx
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Just an observation. Not to stir up an argument. Take it or leave it. =)
chrystael
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Sory your Elliot wave has failed. Have you seen how it is? That is market for you irrespective of what ethkd you use.
At least if you had seen the pattern i predicted you woukd have gotten atleast 500 pips f not 1000pips in pocket with a small stop loss as usual for my patterns.
Finally, one trade isnt enough to say Elliot wave is nit good. I know it to be very goos if you can catch the third wave and can kniw the first wave.
Wishing you more luck
DonkeyTrades
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elliott wave is good, elliott wave is king. the mistake i made was was in identifying the first new wave. it was actually a diagonal sort of pattern that was completed with 5 waves. another mistake i made was the size of the new pattern, obvious to me now that it should of and was bigger than expected.
chrystael
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Good. What you just said is in line with what i and Akil said. Idenifying the first wave correctly. It is best traded after the waves have ckmpleted cause you are bound to make mistakes.
However, please try more to identify the first wave correctly next time.
Good luck to you man.
DonkeyTrades
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i do not think akil trades elliott wave, if he does he keeps it hush hush. i could care less about harmonic patterns. i have recently graduated to elliott wave
DonkeyTrades
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i think you might be mistaken as to my trading approach. what i am talking about has nothing to do with XABCD harmonic patterns. whatever you an akil said, i doubt it has anything to do with what i was talking about. i am still learning how to identify proper elliott counts. however akil's remark that the problem with elliott wave, is that 50 people could come up with 50 different wave counts. that is simply an exaggeration or a cop out. experienced elliot wave traders rarely come up with more than 2 wave counts, on any particular time frame.
chrystael
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Save your strength. Make a new prediction. I am waiting to join you if it trades well. Like i said at time i do usr elliot wave count to add up to my confirmation.