Here is EURUSD... 3-3-5, we know the pattern? Yes, can be a flat here, a bullish one, and if we consider that big trend is still up since start of 2017 why to fight it, right?
Normally when new traders joins the trading filed they will track and trade the one market only. Firstly only BITCOIN, then they move to ETH, then XRP and after year or two they will notice that stocks exits as well, and grains too (yes you can trade this too, but not on Poloniex). As a trader I look for opportunities, and its important to search them between different assets.
As a trader you look at trade probabilities, searching for patterns and answers on "what is most likely to happen next", and sometimes you will not have an answer on one ugly price structure, simply no BIAS. That's the time when you have to move and open another instrument.
Why I am saying this? Because I get 5 request everyday for BTC.. there is not only BTC and there may not be easy HODL anymore. in 2017 investing was easy for crpytos, what could you missed, right?. but in 2018 things are getting a lot more interesting, complicated..
Back soon. GH
Komen
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was in a hurry and tired yesterday when posted this, so sorry for typos!
Komen
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Nice move up on EURUSD, so far 150 pips higher and above previous wave four resistance it can be a new leg up now in full force. Time to tighten stops.. pair remains bullish while above recent 1.2270 swing low.
trade well!
Komen
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Three wave set-back in 61.8% and turn up in the last 24 hours suggests more upside for euro in sessions ahead. GH
Hi!
May this be a WXY, with a Zigzag in Y?
W - is flat
ew-forecast
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EURUSD now 150 pips higher, update coming
donaldsaw
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I'd re-count your wave C - It could possibly be an expanded flat but your wave extensions look short of hitting key fib for wave 1 vs 3 and wave 3 vs 5.
@ew-forecast, Yes, I also see an expanded flat. I am just saying that wave C still might have more to go as the impulse count doesn't look finished yet. i.e. fib extensions in your wave C count haven't extended.
ew-forecast
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@donaldsaw, I see what you mean, but there are some other factors that makes me think that EURUSD found at least temporary low, that I did not include in description.. check the chart
donaldsaw
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@ew-forecast, Sure - those factors are good things to consider but from a pure EW perspective, I have to look at A VS C to terminate and the wave C impulse count I mentioned earlier to really determine termination of wave C.
Let's see anyways,
GL
ew-forecast
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@donaldsaw, sure thing, but what I think is useful is to use EW as your primary tool for tracking markets and other tools to confirm your Elliott Wave analysis. Just focusing on wave count and structure may not work always since there are not textbook patterns all the time.
ew-forecast
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@donaldsaw, but on the other hand, even if just a-b-c up I think its still room for a stronger bounce. we will see, but I will have no issues to adjust if market changes. We track markets and it's not the other-way around
I took the rebound captain, consider it done!