- Do you know where EURUSD will go? - Me either, but I have some clues to share.
Happy trading!
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Scenario one or two, dont metter, WE WILL TRADE!! :D
InsideMarket
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Hooray!
kosai19
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I don't understand why you label scenario two as 5 waves... I haven't seen elliott wavers label a 5 wave correction. I'm sure you realize that W3 in that scenario was not impulsive... only because W4 would be far too large.
InsideMarket
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Your points are pertinent. I'm thinking beyond the theory because - you may agree - it's easy to label what already happend.
About the (potential) wave 3, I'm assuming it's a C wave for now. Let's see how it goes!
kosai19
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I only really mentioned it because most elliott wavers are a stickler for the rules. I actually count 5 wave corrections as my own style of waves. The reason I do that is because it works... I know in reality W1 is (a) of the higher degree [A] but I still choose to label it this way since the ratios of the rest of the waves are the same.
kosai19
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To add... I think elliott waves rules are outdated or the markets have evolved past them. I think that's the main reason it fails for so many people... Generally you have to find an edge and do things differently to have a lot of success....cheers.
InsideMarket
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I use Elliott waves with a strong sense of fractals. It drives me crazy, but the challenge is big as the reward.