GOLD MTF Wave stochastic example for trend reverse

23 Okt 2022

Sometimes you don't need to count all of the Elliott Waves and pinpointing where the last Impulse started is enough to located the proper Time frame to look for that wave ending on the MTF. in this case the 1 month chart was the relative Time frame for the last impulse upwards (see where I wrote MTF stoch wave start) and you can see that from the Stoch being oversold on all time frames. then notice how the green (HTF) starts curving down at the end with a tap from blue and gray as a potential local top to exit at.. this is often all you need to trade a simple wave without too much complication. Please do not hesitate to ask any questions