Okay, here is how I see it.
This pattern is WICKED... very very WICKED... It has oversized adjustment EVERYwhere, and that could cause miscounts for E wave traders like myself.
Look at the blue 1 and 2 for example... W.T. H right? But to me that is 1 and 2. Because doing it any other way will cause the bottom of 2 to go lower than 1, leading to 'invalid' patterns.
But as for pattern lets get to it....
The Purple line represents the WEEKLY path. That on an Elliot-Wave is 4 to 5. Of that i am 95% certain.
The green line represents a DAILY Ewave pattern that should end where the Weekly does, in a matter of months. Of that I am 50% certain.
The Red line is a possible Ewave forming, showing that the 4 of the Weekly was not ready to come down yet, and is making one last thrust up, before coming down for the weekly 4 to 5, and to create a new DAILY, 12345 of its own... Erasing the current green line. Of that I am 70% certain.
But the Blue A, B, C I have mixed feelings about... A to B I feel 80% certain about. B may go to the 'red' 5 area. Causing a flat correction. But C.... I don't know how that will behave exactly... It may do this, or something else entirely... only time will tell.
For now... this trade is a short term LONG.
This pattern is WICKED... very very WICKED... It has oversized adjustment EVERYwhere, and that could cause miscounts for E wave traders like myself.
Look at the blue 1 and 2 for example... W.T. H right? But to me that is 1 and 2. Because doing it any other way will cause the bottom of 2 to go lower than 1, leading to 'invalid' patterns.
But as for pattern lets get to it....
The Purple line represents the WEEKLY path. That on an Elliot-Wave is 4 to 5. Of that i am 95% certain.
The green line represents a DAILY Ewave pattern that should end where the Weekly does, in a matter of months. Of that I am 50% certain.
The Red line is a possible Ewave forming, showing that the 4 of the Weekly was not ready to come down yet, and is making one last thrust up, before coming down for the weekly 4 to 5, and to create a new DAILY, 12345 of its own... Erasing the current green line. Of that I am 70% certain.
But the Blue A, B, C I have mixed feelings about... A to B I feel 80% certain about. B may go to the 'red' 5 area. Causing a flat correction. But C.... I don't know how that will behave exactly... It may do this, or something else entirely... only time will tell.
For now... this trade is a short term LONG.
Trade active:
Going with the red line for now....
Trade active:
HONESTLY... ... ... You could close your eyes to ever line here, and just put in a sell and comeback in a month to see what happened to it. LOL
Trade active:
Looks like going red was the right choice... up 102pips.
Trade active:
SWITCH: From Red to BLUE... this is now an ABC Bto C
Trade active:
NOW... go bk to red. Still a buy.
