Trading is a game of probabilities. How may alternative structures can you draft?
The basic rule - keep it simple and do not overanalyze. Tips: - If you see a “jigsaw” - most likely, this is wave B. Or X. - Impulses tend to respect channels. And some other basic rules, including 3 key rules for the impulse as stated by EWT. - always refer to the major t/f before making a conclusion. There will be always!!! a couple of alternatives.
That is. Coming back to the daily chart, we may draft an alternative structure to the one I have posted some time ago: - 5 waves down with the extended wave 3 - three waves up - that is wave W - three (complicated) waves down - wave X (a “jigsaw”) - expect three waves up to complete a larger three wave pullback (WXY) to the impulse, before resuming the major trend. Simple? Not so. But you see a refined scenario. That should be traded accordingly, as soon, as the structure matures. (Or, taking short-times trades within this trajectory kept in mind)