FCPO to formed corrective wave ?Hello there, it has been awhile since my last update. From what I have been analyzed in this market, this is my dummies & 2cents that I found in the EW's perspective for FCPO
A few weeks ago, we can see the market had passed the 5th wave of impulsive and now most likely it has been entering the correction wave.
This is the guidelines as the support for my studies ;
A. IMPULSE WAVE
1. Alternation
- Wave 2 Expanded Flat (Sideways)
- Wave 4 Simple Zigzag (Sharp)
2. Equality
- Wave 3 is extended, hence wave 1 & 5 is equally +-
B. CORRECTIVE WAVE
1. Alternation
- Since the first wave A is a simple zigzag,
most likely the B wave will be having the complex zigzag
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Well, ofcourse we will let the price reaction to react first as the confirmation for the studies. Too much probability to be told as you know, the rule is a bit complicated for the counting. Let's see either the wave will be in the regular,expanded or running flat later....
This is only for my own studies and would like to share to you guys plus to practice & sharpen wave counting skills for my upcoming CEWA LVL2.
Please, do trade at your own risk & this idea is not a buy/sell call for you.
Leave your thoughts & comments here.
