@ICEKI, @Bullandbeartrading, There is no ABCD. There is only 123 and ABC. Sometimes, you can also have a 12345 and i posted how to forecast them not so long ago. It's like ichimoku clouds, it does work for some people but not me. I stick to what is working great for me, wave analysis is not Elliot waves analysis
@sevensphere, Thank you for the adjustment =D
Elliot wave analysis so complicated and hard to get which spot is the actual starting spot to count. You right Sevensphere stick with something that work great for ourselves is always the best!
Bullandbeartrading
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@ICEKI, i see what you mean elliot wave is 12345 and abcd pattern is that, but why do you always stop after 3 movements ? You always only make 3 movements and then switch to the next pattern.
ICEKI
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@Bullandbeartrading, what a good question bro
Luckily I was have a chance for study EW from my mentor long time ago. The reason why after 3 movements have to switch to the next pattern because this is based on Fiboacci counting with EW counting method. As we know 2 to 3 movements is such a stable long trend movement so if the price is close to the top; some OB and OS indicators, fiboacci should have some correlations with it. Therefore trader may usually take their profit and may be some aggressive trader may PUT the price down for some reasonable retracement. May be this is the reason why 3 movements people switch to the next pattern. Wish I can answer some of your inquiry =D