just an idea from a unexperienced trader structure down finished at this point ? oversold now down to the 2 hour hit the pivot at 4 hours wave count seams reasonable since the count was anticipated even tho the target for going down wasnt as low as it went chopping in and out of the waves required some babysitting keep in mind im a noob and this is just a idea if it turns out to be right ... im not great im just lucky and if you go long make ssure you got your plans when to exit voice you entered
if this goes further down i would be kinda suprised BUT prepared
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oh and for the low time frame count .. make this chart your own so you can zoom in to check the details
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so far the count is invalid due to the restriction of elliot wave theory but i wonder how far one can squish the theory down like this first wave was squishe due to the outside forces like weekend. the question of at what point it becomes invalid is define and already passed . i still see the idea of the next move up coming lower then first anticipated . at this point my targets if they come true it would be pure chance at this point (of course some day they might just get there and i can run around claiming there i said it but so far i dont see the upward wave doing what i thought would be mot proprably .. will try to get a fresh start and analyze the move down again from a blank view later on
nice TA for unexperienced trader ( ;-) joking ) good work my friend!!!
Dayta
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@harut42, thank you for the flowers. the more i learn the more i get how low skilled i am at this point and by using this title for my ta in general i hope to make sure that i dont miss lead any new trader into thinking he might rely on what i came up with. its hard enough to be responsable for your own losses i dont wanna add to that guilt by causing others to lose money :) this is where this title is coming from
so far im doing this for maybe 2 years and i recall when i was doing it 1 year i thought i got it ... but concidering what i learned in the second year i can just wonder whats still to come. stuff that is just natural to trader who are doing this for like 20 years already. im even bettting i still violate some elliot wave ruls without knowing i j ust violated them. for now i look at it like cooking .. i got some reciepts and now i gotta do them over and over and over and over again.