This is a sell SETUP based on EW. Short area 1255-1270, targets: 1165/1134. Details on the chart.
Trade active
⋅
Comments
RogerS
⋅
We are at the same page mate ...
But we have to respect the EW Rule 3 to accomplish this top
Rule 3: Wave 4 can never overlap Wave 1.
We´re gonna make it !! ;)
BGLion
⋅
@RogerS, You are right, but that's the rule for impulse waves and not the corrective ones. According to this count we are in corrective structure right now (WXY) which seems to be a flat correction 3-3-5. The flat corrections are ending somewhere near to the previous top. Actually you have a very different count, but right now we are following the same path. GL to you bro!
BGLion
⋅
@RogerS According Rule 3, why your wave 4 (1194$ - 03.2017) cross wave 1 (1220$ - 01.2017)?
RogerS
⋅
@trading4fun, you´re right mate, too many lines ! ;)
But we have to respect the EW Rule 3 to accomplish this top
Rule 3: Wave 4 can never overlap Wave 1.
We´re gonna make it !! ;)