good chart. I totally agree with your count o 1h chart and direction on daily but I think downward from 1.25 to 1.13 was wave a and now we in b wave
Lionheart-EWA
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@mero1988, Hi, thanks for the comment.
I am labeling the big fall as Intermediate (A) (red), not sure you seen it.
We are in a B wave, yes.
According to how it will develop, the structure will reveal.
mero1988
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@Lionheart-EWA, YES I SEE INTERMEDIATE A wave but i disagree with you about its end i think the end of intermediate A wave was at 1.13 low
Lionheart-EWA
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@mero1988, If you are counting it in a 5 swings sequence, then yes. I am not. On the lower timeframe I am labeling the complex structure before the last fall as a combination, so, as it unfolds, I will have more details. Not sure what we're doing here, focusing on perfect labels or the actual direction. It went up, I am in the green, that's what I see and focus on.
mero1988
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@Lionheart-EWA, many elliott traders agree with you we are going up and the market will reveal the nature of wave .so going in b or 3 or any thing else dosenot matter and this is best of EW
Lionheart-EWA
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@mero1988, Indeed, so far I caught the turning point and that's what trading is about. How it will unfold and what type of structure will be exactly, that remains to be seen in the near-term.
mero1988
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@Lionheart-EWA, last thing the direction from 1.13 is an impluse wave and we are in 5 th wave
Lionheart-EWA
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@mero1988, I know, no worries, just updated the idea with an intraday chart, correction then then we'll see how this unfolds.