Hello
I have published my idea about DOW in an another chart and that's following our forecasts step by step, but I have decided to show you a little more detailed chart in EW aspect.
This is a simple model of Elliott counting that happens so common but there are some good points that's worth to be mentioned.
1. Alternation between (A) and (B) is "pattern".
2. The reactions to the cannel's midline can make it more valid.
3. almost always MACD and RSI tell you the truth but if you have an standard set up
4. be aware of fake weak shadows
5. ?
There is a unique analytical structure that can happen very rarely and it is mentioned in the chart; could you tell me what it is!!!!!
For trading set up: you have to wait till trend meet the confirmation or invalidation levels.
Thanks
I have published my idea about DOW in an another chart and that's following our forecasts step by step, but I have decided to show you a little more detailed chart in EW aspect.
This is a simple model of Elliott counting that happens so common but there are some good points that's worth to be mentioned.
1. Alternation between (A) and (B) is "pattern".
2. The reactions to the cannel's midline can make it more valid.
3. almost always MACD and RSI tell you the truth but if you have an standard set up
4. be aware of fake weak shadows
5. ?
There is a unique analytical structure that can happen very rarely and it is mentioned in the chart; could you tell me what it is!!!!!
For trading set up: you have to wait till trend meet the confirmation or invalidation levels.
Thanks
Nota
I want to tell you that how you can decide in this situation now:There are 2 scenarios :
1- says, Dow is making another consolidation and then drops again that should break out confirmation level (Green Line)
2- if it wants to reverse from here you have to do to steps
First: change your chart in H1 timeframe and then count a clear five wave impulse
Second: turn back to H4 and mark this bullish 5 waves impulse as wave 1
then is the most crucial part of your set up:
you should dive down to 15 minutes or even 5 minutes chart to determine that correct level of wave 2. The most problem for EW traders is to find a real extremity for bullish wave 2 to catch wave 3 with the smallest SL risk.
It was a simplified strategy for this chart
Nota
I have to add this main point that we never and ever get this bearish wave 5 (if it happens). Never get fifth wave in hourly chart because there many obstacles to set a profitable strategy which is not worth most of the times.Nota
a common event in EW is re-counting your chart. I have worked with biggest EW analysts and you can not imagine how many times they re-mark their charts, it is a normal habit in EW technique, but none of them enter any position without true and reliable and enough confirmations.Nota
last confirmation for reversed trend (Bullish Impulse) = 39,200
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.