EURUSD: Do You See The Map? If You Do, You Can Profit
I don't know how many times I have been challenged about the efficacy of wave counting in trading and whether it really works or not. Most all the time, the ones who challenge me have no true understanding or knowledge about wave counting and how it truly works. Only superficial sense about what wave counting is and they pass judgement based on loose information. Well, if you know me and my method, you also know that I am a HUGE proponent of wave counting and use it extensively as a backbone to my trading and analysis. And time and time again, wave counting makes me money! That's all I need to know about whether it works or does not work! Wouldn't you agree? I liken wave counting to the map of the GPS. The "road map". If you know how to read it, it will tell you which direction you need to go.
Anyway, on to my analysis of EURUSD here and what is about to do....
From my wave analysis, this is currently working on a wave c of (x). That wave (x) is part of the larger overall wave B correction which of course we know also is composed of 3-waves. The last of which is impulsive...the wave C. In wave counting, what we try to identify is the PRIME trading opportunities. Namely, the impulse waves. In that sense, wave counting tries to put us onto a trend sometimes even before it can happen! In this case, what my wave count "road map" is telling me is that the wave C is NOT HERE YET and we should not be buying just yet! In fact, I'm SHORT this pair right now expecting the last IMPULSE wave c of (x) to be taking place. You see how it is that wave count tries to put you onto impulsive waves? If you read it right of course!
But if you take anything away from my post here, its that there will be a wave C coming and that wave C may be BIG but you need to be PATIENT and wait for that wave C to arrive AND for price action to confirm that it is underway! Get too gung-ho and trigger happy and you will probably get burned!
Want to know more? Look at my signature box below or PM me.
Anyway, on to my analysis of EURUSD here and what is about to do....
From my wave analysis, this is currently working on a wave c of (x). That wave (x) is part of the larger overall wave B correction which of course we know also is composed of 3-waves. The last of which is impulsive...the wave C. In wave counting, what we try to identify is the PRIME trading opportunities. Namely, the impulse waves. In that sense, wave counting tries to put us onto a trend sometimes even before it can happen! In this case, what my wave count "road map" is telling me is that the wave C is NOT HERE YET and we should not be buying just yet! In fact, I'm SHORT this pair right now expecting the last IMPULSE wave c of (x) to be taking place. You see how it is that wave count tries to put you onto impulsive waves? If you read it right of course!
But if you take anything away from my post here, its that there will be a wave C coming and that wave C may be BIG but you need to be PATIENT and wait for that wave C to arrive AND for price action to confirm that it is underway! Get too gung-ho and trigger happy and you will probably get burned!
Want to know more? Look at my signature box below or PM me.
SPECIAL Report on the S&P 500. Read it here. It's FREE: bit.ly/2KGJ409spx818
Mailing list: bit.ly/2iNieEY
Facebook Group: facebook.com/efxselect
Twitter: @andrewefxselect
Website: efxselect.com
Mailing list: bit.ly/2iNieEY
Facebook Group: facebook.com/efxselect
Twitter: @andrewefxselect
Website: efxselect.com
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.