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Abcpattern

How to count Elliott WavesI'm often asked how I keep track of all the rules and guidelines when trying to count with Elliott. Frankly it is a bit of a tedious process. But for me, it help create good stop loss price-points. If I'm wrong... then I know exactly where I am wrong and my stop goes at that line. Having said that... outside of Elliott for a moment, the most important thing to know is that almost all moves in any market are either divided into 3 wave or 5 wave patterns. If a trader focused only on that I would venture to say he/she would be successful. Here is a very straight-forward example of a three wave pattern with the last leg sub-divided into 5.
by peterdcharlebois
CTS Sell on the GBPJPYOn the yen we have a CTS type trade setting up wic can suit both aggressive as well as conservative traders. CTS Score Structure confirmed by the daily time frame in green. (2 points) AB=CD harmonic move Fib Ext 1.618, lining up with the AB=CD also linked with structure (3 points) Fib inversion 1.618 lining up with structure (2 Points) Entry Aggressive- limit order sell at 164.41 conservative- wait for reversal setup such as a double tob, 2618 sell or pin bar reversal at the kill zone. Stops Above near term resistance Targets near term structure levels Good Trading Guys
Short
by Siyabonga_Ngcobo
Possible setup for AUDUSD SHORTC leg is currently on 61.8% fib retracement and shows rejection from the previous trendline resistance. D extension target 1.272 lines in perfectly with my plotted major support. Target just above major support so the trade does execute according to spreads and just in case a reversal was to happen just before touching the uspport. Stop loss above the monthly and major resistance and inside the trendline because if price reaches these zones again the analysis will become invalid
Short
by sukhkaran456