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Dislikedi am staying aside for now. will sell if the day closes below 1.2398. The move up has done a 61.8 retrace of the last swing as shown in the chart below. have to trade with tight stops as there is a chance this could be a 3rd wave for a move lot higher as well for the bullish alternative. {image}Ignored
Disliked{quote} You use internal recovery levels, and if you do external recovery levels, it is more likely that the price will not stop at 62% recovery, and it will just get closer to the linear regression line. {image}Ignored
DislikedRecently joined Forex Factory been reading here and enjoy the thread. I have been out of the markets for almost 7 years now just getting back in to full time trading hoping to quickly work on re-familiarizing myself with principles such as the EWT. I hope to contribute to this thread as I re-develop my strategy. Keep up the good work!Ignored
Disliked{quote} i don't use linear regression, so cannot comment on it. also kindly explain the 2 recovery levels if possible. EW, Fibs and a bit of VSA is what i use in my forecast.Ignored