A perfect example of a leading diagonal.
This type of pattern is formed in the current conditions of the market when the buyers still do not have a great confidence, thus forming wave 1 of a higher degree in the Elliott Wave structure.
I will present the Fibonacci relations from such a pattern:
Wave 2 corrects in the area 0.768 of the Fibonacci retracement of wave 1;
Wave 3 rises to the area of the Fibonacci projection 0.768 of waves 1 and 2;
Wave 4 corrects in the area 0.768 of the Fibonacci retracement of wave 3;
Wave 5 could rise in the area of the Fibonacci projection 0.768 of waves 3 and 4; (Sometimes wave 5 can be truncated and shorter than the area where wave 3 ended).
So you can trade a long position up to the Fibonacci projection area of 0.768 of waves 3 and 4. After that you can also play short on the correction of wave 2 of higher degree. Success!
Like and subscribe if you like my analysis!
Also I will kepp do updates on the waves/usd because I like to trade it!
This type of pattern is formed in the current conditions of the market when the buyers still do not have a great confidence, thus forming wave 1 of a higher degree in the Elliott Wave structure.
I will present the Fibonacci relations from such a pattern:
Wave 2 corrects in the area 0.768 of the Fibonacci retracement of wave 1;
Wave 3 rises to the area of the Fibonacci projection 0.768 of waves 1 and 2;
Wave 4 corrects in the area 0.768 of the Fibonacci retracement of wave 3;
Wave 5 could rise in the area of the Fibonacci projection 0.768 of waves 3 and 4; (Sometimes wave 5 can be truncated and shorter than the area where wave 3 ended).
So you can trade a long position up to the Fibonacci projection area of 0.768 of waves 3 and 4. After that you can also play short on the correction of wave 2 of higher degree. Success!
Like and subscribe if you like my analysis!
Also I will kepp do updates on the waves/usd because I like to trade it!
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Zizag with wave B triangle for 5th wave from the leading diagonal
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Update for triangle wa1t to breakout the bd trend resistance line
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and I think it will be a truncated 5th wave ending in the middle of the channel
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No triangle an wave 1 from C wave leading diagonal now a 2nd wave a flat, maybe running flat
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Take care also this may be a running triangle 4th wave.
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What is the right way of this chopyy market? We will see soon...
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