Using EW Guideline WAVE 5 = WAVE 1 Projection price for wave 5 is at 1.30000 area
Expecting a sharp correction of wave 4. General guide line EW rule of alternation, wave 2 complex, wave 4 simple. The rule of Alternation The rule of Alternation There is a general tendency for the pattern of the two corrective swings in a completed 5-wave sequence to alternate between a simple (very often an ABC) correction and one of the more complicated or...
I go long with FCPO. Buying on high if the first signal bar. SL is place 1 tick below the signal bar. Long Entry Entry Price = 2269.00 Stop Loss = 2238.00
FCPO ELLIOTT WAVE DAILY CHART ANALYSIS Complex correction of wave 4 forming WXY double combo. Where X wave = triangle , X = 3 structure & Y = irregular flat. For this counting, im assuming the cycle of wave 4 already complete and expecting the decline movement from 2498 to unfold into five wave movement and my next target is at 2255 area.
WEEKLY CHART EVALUATION 1. Price below Alligator 2. Previous Bar - Bearish 3. AO Red Below Zero, Momentum Downtrend DAILY CHART EVALUATION 1. Price below Alligator 2. Previous Bar - Bullish Divergent Bar 3. AO Red Below Zero, Momentum Downtrend TRADING SETUP @ 4H TIME FRAME 1. Bullish Divergent Bar - Valid 2. AO Red, Below Zero - Valid 3. Angulation...
WEEKLY CHART EVALUATION 1. Price below Alligator 2. Previous Bar - Bearish 3. AO Red Below Zero, Momentum Downtrend DAILY CHART EVALUATION 1. Price below Alligator 2. Previous Bar - Bullish Divergent Bar 3. AO Red Below Zero, Momentum Downtrend TRADING SETUP @ 4H TIME FRAME 1. Bullish Divergent Bar - Valid 2. AO Red, Below Zero - Valid 3. Angulation Between...
Looking for great opportunity to go short with wave 3
Key level = 109.199 If price breach 109.199, i use alternate counting (orange). for now, still holding on to preferred counting.
Projection for wave 5 will be at 1.30000 area to complete this cycle.
FCPO still in the process of completing the wave 3 cycle. Yesterday sideway movement support the idea of wave 4 is in progress. Waiting for opportunity to go short on wave 5.
Price declining from 2455 in 5 wave structure could be an indication telling us that wave 3 is going to end in near future, it is too early to say that wave 3 is already ended as there is still possibility of wave 3 extension to happen. Expecting a sharp correction wave 4 and price to re visit 2320 area, that will be the 38.2% fibo level and also the previous wave...
Looking for short opportunity to short on wave 3 Note: Also be alert for the alternate count (orange), possibility of irregular flat correction wave 2 still in progress that will bring price back up to 68/69 area.
Trading Idea: 1. Wait for wave 4 unfold. 2. Short on wave 5. Note to self me: Be patient, the trade will come :)
Possibility price to go lower to complete the last wave in this first impulsive cycle. Trading Plan: Will go short with market if there is a entry signal on my trading system.
FCPO 1 HOUR CHART ANALYSIS - INTRADAY Expecting price to go lower to complete the final wave 5 cycle.