eWaves 4 (that is the wave 4 as shown by eWaves) provides a great opportunity to trade the correction, at the best possible price, in the direction of the main trend, created by the Wave 3. Establishing the best possible price to place trades at the end of Wave 4 can be achieved with support & resistance, Fibonacci retracements and supply & demand zones.
Below is a similar example but in reverse and on the H1. You see where the buyers were that started the up-move? You see how price was pushed back into the demand zone for the remaining buy orders to be filled? The big down-move into the demand zone would have sucked many small traders into selling to the in-the-know buyers.
Trading eWaves 4 can be very rewarding if you look at where the big moves originated from; the moves that took out previous S&D or S&R. The big-money traders leave clues all over the place …
3/8/2014 06:58:47 am
3/8/2014 07:31:16 am
Hey AC...trust you're having a great holiday. The UK isn't missing you :)
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