As profitkeeper acknowledged, a little bit of a bumpy highway, however nonetheless legitimate with potential to commerce should you perceive the candy zone. I’m assuming you entered to early and obtained stopped out.
The chart under reveals your commerce. I used the 30 minute TF because it was the one means I may fiddle with the inputs of the ZigZag indicator to point out the proper ranges (as a result of choppiness of the worth motion).
Per my evaluation, the entry would have been at 120.14 which is the AB=CD completion and a pip from the 200FIB extension of BC. Extra affirmation can come from a TDI cross (inexperienced crossing pink under). A cease lack of 15 pips could be a number of pips above the 261FIB, giving the commerce a little bit room to breathe. First goal could be the extent of X (119.87, very conservative however a great place to take half off the desk and micro handle from there).
Smaller time frames with risky pairs (Yen pairs, EN EA GN, and so on) may be difficult, particularly for waves which can be steeper than the basic arrange. Utilizing the FIB extension of BC and the AB=CD stage throughout the confines of the “candy zone” is vital in these conditions.
Earlier than worth reaches the potential entry level, do 3 issues
1) Draw a line from level B that’s parallel to line AC to outline the candy zone.
2) Put the FIB extension of BC on the chart
3) Put a horizontal line at the AB=CD completion stage
Steeper waves angles are likely to reverse at the 161 to 200FIB ranges with excessive angles all the best way to the 261FIB. Imho, the steeper angle waves are tougher to commerce.
Basic waves structurally are likely to reverse at the 127, 141, or 161 ranges. I discover the 141 stage to be my bread and butter, which is ironic as a result of I’ve by no means seen it talked about in different WW evaluation.
Flatter waves have a tendency to finish at the 113 or 127 ranges.
Anyhow , hope that helps.
After I get time I’m going to open a thread myself particularly for Wolfe waves together with another associated waves that I’ve been finding out. I thought-about making an attempt to revive this thread however thought it could be greatest to take possession of a new thread.
If anybody is , I discovered this free ZigZag indicator someplace that reveals the pips/candles which is very nice for this technique. Sadly, you’ll be able to solely change the colours by altering it within the code which I’ve achieved for a number of totally different colours.