Replies to post #20395 on Cycle Trading

[Duma]

I had posted several times that IMHO EW as a stand alone TA is not a good way to trade. However, when I see a wave 3 develop, it is always worth jumping on for a ride.

Sometimes the waves are easy to count, but most of the time they are difficult to see real time, at least for me. I am usually never correct until all the waves are in, then I can see the true pattern. I always try counting waves on any chart I am watching. Of course long charts like daily give a very different count.

I looked at the E-Wave book but nothing there for me. But every trader has his/her own journey to successful trading, so all learning is good.

[Duma]

Now that the waves are all in, this is what looks like the count to me.

Wave 3 had the classic gap opening on the 11th.