Stopped out. It's close to invalidation point of ED wave count or near mjor turning point. Waiting for revising wave count or setting sell stops.
코멘트
donaldsaw
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Is this an EW count? I am seeing soo many flaws and EW rules being ignored... Particularly the wave 4 entering the territory of wave 1 (unless it is a leading/ending diagonal)
TradingEW
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@donaldsaw, U are right, it's most likely an ending diagonal wave c
TradingEW
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@donaldsaw, Your c waves can either be 5 waves impulse or 5 waves ending diagonal according to EWI:
@TradingEW, Thanks for sharing that. I am aware what an Ending Diagonal is but was just curious to know how you've broken it down as you've counted ED from the B top to the downside of which we're currently in wave 4 and again at this current juncture as wave C of 4. As ED are terminal moves, I always view it as rare; similar to a contracting triangle so I tend to discount both ED and triangles. Thanks
TradingEW
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@donaldsaw, Yes, your are right ED (either converging or expanding) are terminal moves, they either terminate impulse waves or corrective patterns as c wave does.
In fact, Expanding Ending Diagonals are so prevalent in most markets and time frames, it would be unwise to discount them.