Good morning boys and girls!
As I mentioned yesterday in my AUDCAD analysis I am getting more and more comfortable using the EW theory. Still, I am very novice and always appreciate constructive critique.
The way I see it, the wave C has started. As we know, a wave C consists of 5 sub-waves. If I get it right, wave 3 of 5 has just started, aiming for lower than the initial A wave! That could potentially be a savage cash-cow!
I went short pre-maturely, guessing the end of wave 2 within the C and was behind for some time but now it all unfolds to my advantage.
Things I am missing are:
- I am not sure if wave 1 of C is already an extension?
- If so, wave 3 and 5 will turn out as "normal" waves
Based on that I keep a close eye on the count, however the C will dip below the A - if I have it right :)
Good luck!
As I mentioned yesterday in my AUDCAD analysis I am getting more and more comfortable using the EW theory. Still, I am very novice and always appreciate constructive critique.
The way I see it, the wave C has started. As we know, a wave C consists of 5 sub-waves. If I get it right, wave 3 of 5 has just started, aiming for lower than the initial A wave! That could potentially be a savage cash-cow!
I went short pre-maturely, guessing the end of wave 2 within the C and was behind for some time but now it all unfolds to my advantage.
Things I am missing are:
- I am not sure if wave 1 of C is already an extension?
- If so, wave 3 and 5 will turn out as "normal" waves
Based on that I keep a close eye on the count, however the C will dip below the A - if I have it right :)
Good luck!
Note
Wave 3 is in full swing. Looks I've got this one right :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.