●● Mine scenario 🕐 1M FX_IDC:USDCHF Most likely, the sideways correction is unfolding by wave (b) in the form of a , followed by a downward exit in a five-wave structure (c). The wave count allows you to keep the ratio I> III> V on a logarithmic scale.
In the daily timeframe, there are two co-directional count options: with a single (pic.3) and a double zigzag (pic.4) in the wave b of (b). The first of which allows us to consider the transformation of one of the subsequent subwaves c, d or e to a multiple zigzag or .
🕐 4h FX:USDCHF Wave 3 of (3) is likely to be extending. Next, a series of corrections is expected in the fourth waves, at the end of which, under certain conditions, a long position can be set.
●● Alternative scenario 🕐 1W FX:USDCHF The alternative count of the higher wave degree still has the probability of transforming "Supercycle" (b) to a double zigzag w-x-y.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
This is all done manually, without the use of any indicators.
ynchart
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@TradeWaves-EWA, Thanks for your fast reply. Do you know any indicator on TV can do an auto count of waves?
TradeWaves-EWA
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@ynchart, Not. There is no such indicator on TV. And I'll tell you a secret that any indicator will make hundreds of times more mistakes than experienced Elliott Wave analysts.