The Elliott wave principle is a form of technical analysis that finance traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors.
The reason why i think is a buy since we broke the lower high at the 1753.60 in the 1h timeframe, a 4 touched demand zone w/ up fractols, an morning doji star ( candlestick pattern ) at the close and a broke trendline.
1. Uptrend with 10-25 candles
2. Look for down fractols with high volume each of them
3. See many tall wicks/shadow/rejection to making a new higher high
4. Find the up fractols with low volume each of them.
5. Enter short/long when theres an berish engulfing in the 3rd fractol + volume in the berish increased
6. Hold the position when it broke the previous lower...