OCEAN in daily chart
Hello
I have chosen this symbol to show elliotticians how a correction pattern can be complex and how many scenarios can be possible for it.
There is no one in the word that can predict this chart with reliable interpretation because corrections can be expanded and make alternative legs. In the other side there is a really good strategy for corrections to make money and it is their C or Y wave which is beyond this text.
In this chart what is 100 obvious is wave abc cycle (Red Color) and then there is a pattern like Leading Diagonal that i assumed it wave a but it can any thing else.
Strategy:
what is happening now is an impulse that I marked with green color which can be wave 1 or A (Primary). In this scenario you should wait till wave A and B primary completes and then make a plan to get wave C primary.
In smaller timeframes you can get wave (5) intermediate but I don't because I am swing trader not struggler in minutes chart.
I need to add that what I said is more about Futures/Forex market because I do not trade in Crypto, specifically short trades.
I have chosen this symbol to show elliotticians how a correction pattern can be complex and how many scenarios can be possible for it.
There is no one in the word that can predict this chart with reliable interpretation because corrections can be expanded and make alternative legs. In the other side there is a really good strategy for corrections to make money and it is their C or Y wave which is beyond this text.
In this chart what is 100 obvious is wave abc cycle (Red Color) and then there is a pattern like Leading Diagonal that i assumed it wave a but it can any thing else.
Strategy:
what is happening now is an impulse that I marked with green color which can be wave 1 or A (Primary). In this scenario you should wait till wave A and B primary completes and then make a plan to get wave C primary.
In smaller timeframes you can get wave (5) intermediate but I don't because I am swing trader not struggler in minutes chart.
I need to add that what I said is more about Futures/Forex market because I do not trade in Crypto, specifically short trades.
AMA
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