Now forgive my ignorance I have only just started reading the frost/prechter book and so much to learn about EW! , the x2 & 2 2's etc have me slightly confused.
This chart is saying still on a downtrend and from here should drop to .065, then possible of .05 as lowest before another trend upwards?
I showed 3 different alternates in one chart. Sorry for the confusion. Every color is a different alternate in this chart. Correction is likely done. We are most likely in wave 2 correction.
Orange count needs another low but I think it is unlikely.
Thank you.
Now forgive my ignorance I have only just started reading the frost/prechter book and so much to learn about EW! , the x2 & 2 2's etc have me slightly confused.
This chart is saying still on a downtrend and from here should drop to .065, then possible of .05 as lowest before another trend upwards?
Thank you again!
I showed 3 different alternates in one chart. Sorry for the confusion. Every color is a different alternate in this chart. Correction is likely done. We are most likely in wave 2 correction.
Orange count needs another low but I think it is unlikely.
Oh right, thank you.
That certainly makes much more sense, I am looking for a re-entry point, sold 2/3 at .11, then 1/3 at about 9.5 so did well.
Was hoping, like everyone it would correct more of course.
So end of the blue wave 2 and the start of wave 3 of a larger degree, potentially?