Good morning boys and girls!
I want to kick-start the week with a contradictory idea to the majority of the TV community. I believe that the pair faces another up-move, with a new high, before coming down once again.
What gives me reason to believe this is a potential wave C I have outlined on my chart. It would make perfect sense because:
+ Wave A consisted of 5 sub-waves, meaning that wave B is unlikely to correct the whole of wave A
+ Wave B has a chance to be finished as I can clearly see a a-b-c sub-wave within it
+ The pair finds itself in quite a down-market since a while. A correction just makes sense
With that in mind, a C wave would top wave A and therefore create a new high. I am acting cautiously as wave B isn't necessarily finished. It's a correctional wave which can be tricky at times!
So, with all that in mind I am looking to go long with a tight stop. If I am right a 1-2-3-4-5 sub-wave within the C will unfold and push the prices much higher. Bear in mind, I am still a beginner using the EW theory so please feel free to comment constructive critique.
Good luck!
I want to kick-start the week with a contradictory idea to the majority of the TV community. I believe that the pair faces another up-move, with a new high, before coming down once again.
What gives me reason to believe this is a potential wave C I have outlined on my chart. It would make perfect sense because:
+ Wave A consisted of 5 sub-waves, meaning that wave B is unlikely to correct the whole of wave A
+ Wave B has a chance to be finished as I can clearly see a a-b-c sub-wave within it
+ The pair finds itself in quite a down-market since a while. A correction just makes sense
With that in mind, a C wave would top wave A and therefore create a new high. I am acting cautiously as wave B isn't necessarily finished. It's a correctional wave which can be tricky at times!
So, with all that in mind I am looking to go long with a tight stop. If I am right a 1-2-3-4-5 sub-wave within the C will unfold and push the prices much higher. Bear in mind, I am still a beginner using the EW theory so please feel free to comment constructive critique.
Good luck!
Not
Having a closer look at it today and worked out that Wave B probably is already complete, meaning that SHORT wave C has started! Therefor I turned my long trade around and opened a short position. Wish me luck hehehe
İşlem elle kapatılmış
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.