Hi Traders,
I am new at this wave trading and find the forecasting of direction and retracements fascinating!
Being new, I will probably have some of the wave labels wrong, but I am not so worried about getting them perfect, so please don't be so pedantic as to correct every detail.
If you have a different "idea" using waves & Fibos, feel free to show a chart so we can all learn together...
I am certainly not claiming to be a guru or trying to become one, just wanting to be part of a community where we can all learn without having to fork out precious cash..
So, as I see it, we have the end of a correction, which would mean the beginning of a trend... exactly where we want to trade!
The first wave is almost complete with 5 waves (in blue), so wave 2 should be a retracement almost back to the broken structure line and the perfect place to enter short.
In a perfect world we should see another 5 waves (yellow) for wave 3 (green) which means a lot of pips!
Let's see how it pans out!
I am new at this wave trading and find the forecasting of direction and retracements fascinating!
Being new, I will probably have some of the wave labels wrong, but I am not so worried about getting them perfect, so please don't be so pedantic as to correct every detail.
If you have a different "idea" using waves & Fibos, feel free to show a chart so we can all learn together...
I am certainly not claiming to be a guru or trying to become one, just wanting to be part of a community where we can all learn without having to fork out precious cash..
So, as I see it, we have the end of a correction, which would mean the beginning of a trend... exactly where we want to trade!
The first wave is almost complete with 5 waves (in blue), so wave 2 should be a retracement almost back to the broken structure line and the perfect place to enter short.
In a perfect world we should see another 5 waves (yellow) for wave 3 (green) which means a lot of pips!
Let's see how it pans out!
