In Elliot the abc's don't have to have an equal A&C... they can be fib projections. The A-B-C I was talking of for projections has A=C in length... OR A x 200% = C. The arrows show precise equal lengths on this chart. The number count is Elliott.
Looks a distinct possibility but I posted the count only for information and more to show where the ABC's were. There is a reason why I trade as I do - I got better! I used to use Elliott but there were too many counts and it was too involved. At the start using multiple TF's and then indicators does your head in - but then it becomes automatic. I do very little drawing and could trade with zero involvement (TL drawing). Will this pattern unfold as a 3 wave abc correction or a 5 wave reversal? Do I care? Nope! That PP and 1 min CCI was good enough for me
Yeah and way OB CCI on 1H as well after pretty big run... Really, who cares what it is, if I saw it as a signal...
YH, Thanks a lot the VWMA post, been through it twice, from the post I get the impression that you would consider channels, TL, S&R/PP levels as indictors base on past price action, that leads future PA.. Then there is VWMA as you post, something that i aim forward after getting good at PA, anyway, thanks for the post, there are soemthing to aim forward to after PA.. Cheers
I usually enter on BO above reversal bar pattern following 4th touch.... Though maybe it can be way more aggressive and just enter on 4th touch if it's w/ the bigger trend.