AVAX wave 5 impulse on the MTF wave stochastic indicator

6 Nov 2022

another example of how to interpret the waves with the help of the MTF wave indicator. you can see wave 5 starts with MTF being oversold. you mainly need to look at the green curve which then forms a wave up, then diverges at the top with a tap up from gray and blue time frame stochastics, followed by more green stoch wave decline as well as a clear entry for short through that last fakeup . for those who dont know, the fakeup is when gray stoch bounces up alone with a clear gap between it and the blue stoch.

6 Nov 2022

Nota

one thing to add, is that the beauty of it is that you would not be able to add on this last drop alone through elliot waves as that fakeup occured at the very local top which was not in a fib zone that one would have normally shorted... it often helps with very shallow retraces...