Hello,
I am working off of the same Eliot Wave I posted before. (it is tagged with this). I just cleaned it up so we can see what is next.
Here we have the ABCD pattern or correction of the Eliot Wave. As you see the entry point in the green box at D point,
is just below the structure line. This I think is great, because usually this is where people place there stops. Some of you my see the GARTLY Pattern forming with a completion at the 1.27. (in green).
As part of my rules this is not a Gartly I would take.
The stop hunters come out to play, and push the price down just enough to get people out. Because there stops are just below the structure line.
So I will place my entry at the end of the Harmonic leg of the AB at the D point. That also falls in the zone of the 1.27- 1.38 ext. of the AB leg.
I would like to hear some comments on this.
Good luck.
I am working off of the same Eliot Wave I posted before. (it is tagged with this). I just cleaned it up so we can see what is next.
Here we have the ABCD pattern or correction of the Eliot Wave. As you see the entry point in the green box at D point,
is just below the structure line. This I think is great, because usually this is where people place there stops. Some of you my see the GARTLY Pattern forming with a completion at the 1.27. (in green).
As part of my rules this is not a Gartly I would take.
The stop hunters come out to play, and push the price down just enough to get people out. Because there stops are just below the structure line.
So I will place my entry at the end of the Harmonic leg of the AB at the D point. That also falls in the zone of the 1.27- 1.38 ext. of the AB leg.
I would like to hear some comments on this.
Good luck.
