COMBINATION OF METHODS: BEARISH BUTTERFLY AND ELLIOT WAVE
Red line: Elliot wave count. please refer to my previous post on how to count Elliot wave if you dont really know
Green line: 1: Down trend of elliot wave counted and
2: 4hrly resistance and support
Purple line: 1: weekly resistance and support line. it has a strong effect on determining reversal or continuation.
2: ab=cd harmonic pattern to be completed with the Elliot b to c waves likely
Brown callout: 1: ab=cd harmonic pattern to be completed likely and
2: areas of fibonacci clusters aligning with resistance and supports of weekly and 4hrly charts
how to trade:
as usual, use nice entry technique. may be a double or triple top, if need be to go to lower time frame for clarity, please do and most important with RSI divergence.
dont forget your risk to reward ratio. you could alter to suit you or the market flows.
if there is any alteration in the trade, i will make the update.
thanks
wishing you luck.
Green line: 1: Down trend of elliot wave counted and
2: 4hrly resistance and support
Purple line: 1: weekly resistance and support line. it has a strong effect on determining reversal or continuation.
2: ab=cd harmonic pattern to be completed with the Elliot b to c waves likely
Brown callout: 1: ab=cd harmonic pattern to be completed likely and
2: areas of fibonacci clusters aligning with resistance and supports of weekly and 4hrly charts
how to trade:
as usual, use nice entry technique. may be a double or triple top, if need be to go to lower time frame for clarity, please do and most important with RSI divergence.
dont forget your risk to reward ratio. you could alter to suit you or the market flows.
if there is any alteration in the trade, i will make the update.
thanks
wishing you luck.
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כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.