EURUSD - Trends, Forecasts and Implications (Part 2) - page 785
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If you do not know the name of the thread, you may have to look in a different direction. As for the waves, I do not trust them either, they have too many conventions and the beginning and the end are unpredictable.
And on the topic it would be more interesting to learn about your prose and your goals
Buy at 3830-3730 to 1.41 and sell from 4130-70 whichever comes first... And between these levels it is hard to say how the picture will develop...
Buy at 3830-3730 to 1.41 and sell from 4130-70 whichever comes first... And between these levels it is hard to say how the picture will develop...
Confusing short-term picture, I agree, but going down... if there is going to be a pullback, it's going to be something like this:
3830-3730 will be earlier.
Now, if it breaks through, then we go up to the next level, I mean the breakthrough level 1.3920, but it seems not.
What I don't like is that the price can't pass 1.3900
You may have thought that Forex is a casino. So do not teach the scientist. Nobody trades stupidly. There are many ways to trade, channels, figures, triangle-based, etc. I can rely on all that, but not the waves.. I'm sorry, don't even try to convince me, there's a basis for that. You may keep drawing your waves and guess where the fifth wave is, where the third one is, etc.. It reminds me of reading the coffee grounds at granny's, she speaks nonsense, and people choose what they like, find comfort, truth, and their own benefit. As well as trading in waves, when an error occurs, they say, nada, this is not that wave, this is the continuation of the previous wave. So I don't trade based on waves and I don't trust this nonsense.
Waves are actually a graphic representation of the mood of the masses. Just to make it clear.
Imagine the same graph, but the horizontal axis is not the currency pair quotes, but, say, reflects the scores, grades for university students for activity in the study of textbooks.
Let's say, a week before the start of the session, after a general binge or correction, a mass studying of textbooks by students begins. Than not the first wave of bull rush or craving for knowledge? Scores (quotes) on the horizontal scale began to rise. The night before an exam, 99% of students study textbooks. What's not the third wave? At the time of the exam, the most frightened ones continue to repeat what they have read, but there are fewer of them. The score quotations are no longer growing at a frantic pace, but what is not the fifth wave? .....))))
The same process is inherent in exchange relations, but in the exchange there are more distractors and they are much more complex than in the example above, so the waves are more sophisticated and complex. That is the difference, but the essence is the same. It is a graphic representation of the reaction of a mass of people to various stimuli.
Some people are good at understanding waves, others are not, it's a normal process, you like to trade on figures, triangles, trade, it's also a normal approach.
You may use them all, because all of them exist and everyone chooses the form of trading that is more suitable for him.
Long-term or short-term?
Forever
Synchronous
About your picture:
don't you see the analogy? From where the upper boundary of the channel starts, you can split the chart into 2 almost identical sections! Although it doesn't help, but it looks cool
I think the fall will continue to 1.3750