GBPUSD D1 Running flat for more downside. Checkout the idea detail's and update's for the complete picture!
tradingthemove
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@Boon2,
Possible. One thing to notice is that C-wave has been invalidated. It doesn't have 5 waves internally.
Watch my video on youtube channel explaining. Cheers!
@tradingthemove, Ok yep, yes I don't count wave's the regular way most look at EW'ers do anymore, it's to unreliable and untradable in my opinion.
tradingthemove
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@Boon2, Agree with you on that. There has to be a system to count waves. Traditionally, wavers have used MACD to do that. It is too unreliable and lagging, and even some guru's have gone to the extent that C-wave doesn't exist; just because they couldn't see it in the indicator.
Boon2
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@tradingthemove, Using any indi without good rules to go with it is sure to fail.
Not sure where you got your info from that a MACD is a lagging indicator though? used correctly it's one of the few leading indicators out there, not the MA's as they are lagging but the CD in MACD which is the leading indication's.
tradingthemove
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@Boon2, Agreed. MAs are lagging. People use it for divergences and convergences, but that too, in itself is a concept which traders use incorrectly. It seems like you know what you are talking about. Good luck, Cheers!