Most of my trade setups for the entire month have been long USDCAD . (Check related ideas). As the move progressed up, the wave count kept showing further upside where several market participants started getting .
At this point, the count is complete from 1.3038, and we should see a pull back. The larger structure is still , so not expecting a capitulation here.
The 61.8% Fib confluences nicely at the moment with the bottom of the channel
I'm I correct in assuming you're labeling this an a-b-c
with c potential at or near the last high is part of a larger
degree wave B making the low of Oct 15th an A and
this larger degree being a B wave top of an flat or extended
flat with wave C correction to unfold before a final wave 5 ?
Hope I made this question understandable ?
Thanks for your thoughts ~~~~~~ wishing you pips in your pocket too !!!!!!!!!!!!!!!
To my eye, I see an impulsive price action (going as far back as 2 or 3 years) that would be labeled
as this chart included where you see this as
a corrective price action as you've labeled.
So, my question: what is the reason you see corrective price action instead of impulsive
on both the larger degree and smaller degree ?
Thanks again for your thoughts !!!!!
Just one more question ~~~~~ I understand that the
The shorter time frames have so much "noise", if you will.
On the larger degree, which of the 3 major rules in EW are being broken
that you refer too,
and when that happens what makes you rule out triangles for messy price action ?
Thanks and I'll leave you alone to trade now. !!
I'm just curious about such exact opposite labeling.
ps_ wish I could take credit for this labeling, but, most
of it is from someone smarter than I/me -_
which is why I bring this up since I just can't see anything but impulsive.
Again ----- PIPS in you POCKET !
Elliott Wave is the most subjective technical analysis tool out there. And the most difficult. I don't know which methods are right or wrong, just sharing what works for me.