dojitrader
Long

Primary - 1st Alternate - or 2nd Alternate Count To Go Long ???

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
153 1 1
A few traders have suggested a similar EW labeling
for this impulsive move and the only difference is the 4th
wave labeling as a 3-3-5 expanded flat and the possibility
of an extended 5 of 5. So, with an expanded flat ----
IF wave 5 = wave 1 then the first chance to go
long will be about .8325. Should it continue down then
extensions galore may be in play.
I'm going with the Primary count and hope
the candlesticks fine tune the long entry for
a projected 2nd major wave to the upside.
dojitrader
2 years ago
I'm probably getting to smart for my own britches - again !
Anyway, this corrective price action has the look of a 5-3-5 zig zag.
This first 5 waves being an A wave, so, I'll take half off @ .8400 and look
to re enter after a 3 wave B - maybe add on a full position for the ride
up on C wave. Then maybe an X wave ? the ultimate target should be
about .8510 which is the area of the 4th wave on the larger degree
and the .382 fib retracement.
snapshot
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