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Corrective-impulsive

USDNOK Elliott Wave Application (feedback appreciated please.)I was reading over the weekend and really trying to understand how to identify inner waves of the larger Wave to get a better idea of structure inside of waves. Another area of learning for me was the correction waves, going over simple and complex and that brings me to this example here. As we are coming off a large 5- Wave completion, we got a ABC correction where C corrected 100% of Wave A. Following the correction the sub-wave count of the next push was a inner 5-wave move, not ABC, which makes me believe that the correction is actually completed and Wave 1 of next move is confirmed. Giving that situation i believe the sub-wave count can start for Wave 2 and we can find entries to get in on the 3rd Wave. Any feedback, input or clarification is highly appreciated guys, always a student of the charts!! Happy trading
by CroomFX
Bullish reaction off role reversal levelWithin a steady uptrend, price initially struggled to break above the 38.5 level. However, the immense bullish pressure resulted in a breakout to the upside and a brief intraday pullback shortly after. Price preceded to create a new high and has pulled back to that same role reversal level (now support). It has formed a notable reaction hinting at potential upside. Conservative traders can seek to get long at current level and more aggressive traders can look to buy into another dip toward the support level. Like this idea? Hit the thumbs up. Want more simple trading ideas like this? Follow me. Post any questions you have in the comments. Happy trading, Nazar.
FX:USOILLong
by NBent
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