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sifneosFX
Apr 23, 2022 8:18 AM

Elliott Wave 5th Wave just began Long

GoldOANDA

Description

The only problem with this setup is, the 4th wave already dived deeper than the 1st wave (blue line), however only with shadows, bodies are all above 1st wave.

The 1st and 2nd wave within 5th wave has already been build. It should travel at least to 1.618, with high probability to level 2 as this matches with the level above.

To me this is a valid Elliot Wave setup, a good opportunity with 5:1 profit/loss ratio.
Comments
suyi3000
your number 2 violates the rule
sifneosFX
@suyi3000, As it seems on this chart yes, however, other brokers such as fxpro, there is no violation: c-chartshots.ctradercloud.com/c/6263d98a493f1
sifneosFX
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