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Salvi
Dec 3, 2016 11:38 PM

Weekly Wave 5  Long

New Zealand Dollar/U.S. DollarFXCM

Description

I reckon the price is likely going to complete the full pack of Elliott' waves :D

Wait for a little retreacement to the 4 hour resistance and then if you want and by your own risk trade it till the target area.
Comments
NearDrowning
Interesting. What do you think about fundamentals?
Salvi
@NearDrowning,

Hi. I do not use it with Elliott waves count. It is really good to predict market volatility but it is really difficult to say 'this new and ratio and whatever the thing looks bullish' cause it can perfectly be the other thing.
Instead I use the market behaviour associated to the waves. I see a bullish sentiment right now in the weekly timeframe. And I think that it is going to change in this new wave which is likely going to end up (at least temporary) the trend to the up. But this cant be use as a fact cause this is just a possible market behaviour :D
You need other things like price action in minor timeframes or what you want to use.
I repeat, fundamentals are good but can't tell you the high probability path of the price. At least, that it seems to me, cause I'm not economist and I can't bear with that info!
Also I'm not a professional trader so please take this just as a possibility!.
But my eperience tell me that fundamentals just can be use to know the volume of people that can be involve in a area... That is high probability areas calculated by econometrics.
So sorry for my nescience and if you know how to make it useful with Elliott's count I would appreciate that information :D
NearDrowning
@Salvi, Do you watch Economic calendar?
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