Always in the direction of an underlying trend.
Use this method to allow early entry intro the trade and also compatible with Super Trend indicator.
Counting the waves correctly is a must to avoid invalid TA.
Spot an impulse, 5 sub-waves.
- EW Impulses + Equality
- Alternation within Correction
- Depth of Correction Wave
- Fibs Extension + Retracement
EW Impulse Guidelines ;
(1) Wave 2 cannot retrace the entire wave 1.
(2) Wave 3 can't be the shortest among waves 1, 3 and 5.
(3) Wave 4 can't overlap with the price territory of wave 1.
(4) Wave 5 needs to end with...
Sideways and level 25% of fib line acting as support.
This fan lines can be used to estimate support levels or potential reversal zone.
Need to break 50% fib retracement line to gain the positive momentum.
In BLDN daily chart, it shows wave 1, 3 and 5 are motive waves and they are subdivided into 5 smaller degree impulses labelled as (i), (ii), (iii), (iv), and (v). Wave 2 and 4 are corrective waves and they are subdivided into 3 smaller degree waves labelled as (a), (b), and (c). The 5 waves move in wave 1, 2, 3, 4, and 5 make up a larger degree motive wave...
Another setup of impulsive wave by QGMD.
Had completed wave 1 and 2. Price likely move in impulsive wave-3
Good entry during pullbacks or corrective wave during uptrends - at wave 4.
Riding the trends at wave-3 and TP at wave-5