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clock Created with Sketch. 16/10/23
12:33
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Originally posted by Darkstone:
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The rainbows are calculating EW impulse and correction waves, The EMA's are calculating crossing points and thus trend changes. The channels serve multiple purposes, 1. to smooth the movements so up and down trends are clearer and free from the noise, 2. to set trading point buy and sells when I am channel trading, 3. To make it easier to see the EW curve patterns and, once a wave 1 and 2 are defined to find the probable retrace points for the ABC correction after wave 5 (support channel - not there yet because we don't have a complete W1 & W2 for this cycle yet.
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Love it. It’s a lot of info. After your explanation of usage, it’s like reading someone else’s book. Thanks for sharing. I was fully expecting 4DS to retest support today as volume is not high. Just looked and we’re back at 12.5c. Wonder whether she will travel sideways within a 12.5 - 14c range for a while. What does your EW analysis suggest?
(20min delay)