but on smaller time frames it still possible and I remain short.
The maket completed a 7 swing double zigzag and then did a zigzag
and retraced 90% of the down move which is usual in i a flat.
Now the market should retrace the flat, but will it make take out
the high or make a new low? Remain to been seen.
I think it will do a flat now (I have no evidence for this atm) if it wants
to reach the 4:th wave (1.60/59 level)
The accepted "norm" would be to the 1st level = .382, then .50, then .618 whether it was form high to low or low to high.
To use your chart --- the market looks to retrace down from the high .382 % of the move up
instead of down to .618 of the move up from the low
the "Standard" way of doing this is the word I wanted.
The numbers usually come out pretty close to the same. It's just having only
one way for everyone to look at the same thing.
ps I like your work and I'm interested in your chart of NzdUsd.
I have a bit different take and might ask a few questions if that's ok with you ?
But your way is probably the "correct" way, I don't mind much enither way.
23.6 is inverted 76.4 =100
They add up, so the numbers are exactly the same.
You are welcome to ask any question re. my charts
and I will try my best to provide a satisfying answer.