I'll update my ideas as they develop
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This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome
Steve Nixon - logicfxtrading
Remember price can do anything it wants but at least we've given ourselves a shot at a very nice trade.
Here's the daily chart. We are very near the top but if you analyse the dollar index you'll see that it probably has one more wave down to complete the structure. Hope this helps
In terms of my view, I have this opposite to you so always nice to see an alternate perspective and the reasons for that.
I have the start of your A wave down (from the high) as a leading diagonal. Your B wave is wave 2 for me which I have marked as a flat which retraced 90%, and now the drop that you have marked as wave C, I have as wave 3.
Also, to note, there is a triangle which I have marked as my wave 4, and a triangle, as you know from EW theory is a terminal move so I have my count short. If this move down breaks the triangle, we're doing downtown to close the gap and possibly a new low.
Anyways, food for thought.
As for EW counting, I look at all timeframes; both granularly and bigger timeframes (as you pointed out - fractal) and I apply EW rules and guidelines on every count.
Let's see what happens here as I never settle on a count being final as bulls can turn into a bear very quickly.
Good luck mate