EURUSD - Trends, Forecasts and Implications (Part 2) - page 1232
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Hello everyone!!! Happy New Year and Merry Christmas!!!
Started studying Wolfe waves in order to screw them to Elliott, who can tell me if I've got the markings right?
Wrong, trends 1-3 and 2-4 should form a wedge and cross somewhere there. As in Ekonom's picture.
Wrong, trends 1-3 and 2-4 should form a wedge and intersect somewhere there.
So I took an example from the textbook, they don't intersect here
So I took an example from a textbook, they don't overlap here
I see, there are only two trend lines in the picture, that's why I didn't get it right away. The lines drawn through points 1-3 and 2-4, there is just one missing, 2-4.
On the outlook: on the FOMC today we may start the decline towards 1.3270
Looking at the H1 and H4, I think the last bounce is at least 50%. On the daily chart if we do not hit the last high at 1.3497, a good divergence will occur and then go-go)))
Sell at H1 candle close below 1.3383.
no comment ..... just to confirm the levels in combination with the pendants (by main time intervals (day, week, month, quarter, half a year, year) .... at the close of the 1-hour candlestick below the yellow level sell to the next green level 1.3320 iron ... above the wrist buy to the next level 1.35 iron .....
anyone interested in the pattern on the euras with fans and flaps ...not sorry ...
no comment ..... just to confirm the levels in combination with the pendants (by main time intervals (day, week, month, quarter, half a year, year) .... at the close of the 1-hour candlestick below the yellow level sell to the next green level 1.3310 iron ... above the wrist buy to the next level 1.35 iron .....
anyone interested in the pattern for the eu with fans and flaps ...no pity ...
I understand all that, but why is buy on peak again? thanks for the pattern.
I understand all that, but why is buy at the peak again? thanks for the pattern.
Geez, I'm a bit of a sucker.... That's exactly the disadvantage of Elliott Waves is that all details of the past are important for prediction... Of course, if you use other tactics together, everything is OK, but if you use only one wave, then you can get into a trap, for example - in my H1 terminal it looks like this:
And in another terminal it looks like this (because there is a history from 31.12.2010 till 02.01.2011, i.e. the days when the market was closed for trading)
Because of that I missed the fact that the top at 1.3425 was already there those days, and today it was just renewed, because of that everything was lost =))) But I was right about the decline though =))
Worriers - watch the weekend and holiday quotes!!!