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Wolfe-wave

UK100 LONG PROJECT - 2 in 1Good day (and night :-)), All! Major bullish green wave and supporting its formation minor yellow WW are currently taking shape and will most likely be formed within the next day. Normally, I wouldn't trade such a wave alone, but with the support of lesser yellow one it's worth of giving it a shot. I would like to underline that major green pattern can't (!) be considered to be a standard WW as I'm ignoring the spike which is forming minor yellow wave (point 2). I chose such a form in order to keep the shape of green wave according to (more or less) classic pattern and as it also fits the minor WW. The yellow wave is correct and can viewed as a valid formation completely on its own. The targets of both waves are located pretty close to each other. However, I would expect the price to re-test previous resistance in 736x-737x area before reversal and if so, confirming (incorrect, but working) green major pattern. Good luck and great trading!
OANDA:UK100GBPLong
by OceanBlue
Bullish Wolfe Wave Pattern I just spotted a very nice Wolfe wave pattern. Sadly just right now. But I thought to publish it as education, since it strictly followed the rules. 1. Waves 3-4 must form a channel with wave 1-2 2. Wave 1-2 equals waves 3-4 3. There is regular time between all waves 4. Wave 5 exceeds the trendline created by waves 1 and 3 5. If price rebound above the trendline created by waves 1 and 3 then BUY 6. Sell Limit gets adjusted to an extended trendline that we draw from wave 1 to 4
BITFINEX:BTCUSDEducation
by has1988
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