FX_IDC:USDBRL   U.S. Dollar / Brazilian Real
22 2 3
USDBRL             is oversolding near blue support .
It is retracing on it , as wave-4 or as alternative count wave-B
Cluster : (c) = (a) and 0,618

If "1-2-3-4" count , expecting bullish wave-5.Buy between 3,53 to 3,52. SL under 3,5 . TP at least top of wave-3.
If "A-B" count , price may retrace more as it can be bullish wave-C from here.
I think that low liquidity will make it impossible to accurately use EW on this instrument.
Refer to these: http://www.neowave.com/audiointerviews/20121219b/transcript.pdf / https://www.neowave.com/audiointerviews/20141013/transcript.pdf

"First of all, I picked the markets that I
have Euro currency, Gold and T-Notes and the S&P because they’re all vastly
different from each other and pretty much the largest market in the area that
they’re in."
"There’s no reason to follow silver because it’s a lot smaller than the gold
market, and it’s somewhat similar."
"I probably wouldn’t be able to have any Wave theory-based analysis on
crude oil because it’s not likely to follow Wave theory well. It’s a consumable
item that’s brought out of the ground, processed, consumed, and then it
For Wave theory to work, it’s important that you have something that has a
perpetual life and is more based on the opinions and feelings of people, not
based on supply and demand."
Naturally,there is lack of liquidity compared with eurusd.
New concepts : "opinion and feelings" vs "supply and demand" .
Thanks for sharing...
+1 Reply
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out