So I start making profits and gold goes down to 1464 and then quickly retraces to 0.786 level.
A $8 move against me. 0.786 and 0.63 are very common retracements off of point 5.
Painful to wait through.
But this gives me a potential new WW with the former WW 5 becoming a new 1 and the 1464 a new 2
and the retracement to 1472. So now I know I'm going to have an a-b-c move to get to point 4.
Not as certain about wave 4 now, so I wait as my first wave 4 (completion of wave 3 a-b-c) is past.
Could this be Wave 4 of the down trending WW.
I wait.
Go to Part 3
A $8 move against me. 0.786 and 0.63 are very common retracements off of point 5.
Painful to wait through.
But this gives me a potential new WW with the former WW 5 becoming a new 1 and the 1464 a new 2
and the retracement to 1472. So now I know I'm going to have an a-b-c move to get to point 4.
Not as certain about wave 4 now, so I wait as my first wave 4 (completion of wave 3 a-b-c) is past.
Could this be Wave 4 of the down trending WW.
I wait.
Go to Part 3
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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.
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.