Hey traders! Short lesson in wave theory and pattern analysis here. Advanced patterns and EW theory are great supplements to one another. I find that the most successful advanced patterns are "pieces" of waves and that each pattern correlates directly to a corresponding wave count. I like the Gartley for trading zig-zags because we can target higher targets than the XA termination of the advanced pattern. Here, a Gartley could complete to spark the rally to the end of a zig-zag. From target, we can either continue into a double zig-zag or continue the drop toward bearish targets. Happy trading!
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This one's filled, everybody. Let her ride!I've moved my SL to B/E
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T1 Achieved! Excellent price action out of the PRZ as predicted by the EW count. EW correction + Gartley pattern can be a powerful combinationTrade fermée: cible de profit atteinte
That's all folks! Nice victory on a 5:1 48 pip run. I added more at the completion of a triangle reversal, see below:
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.