Good afternoon, everyone. Elliot wave principle is what I used to trade the Forex market. I really believe that the market move following the Elliot waves patterns and the fibonaccies number.
I have seen many times how the famous Elliot wave pattern is repeated in many cycle and to the point when do not miss even by a single pip. we as trader tend to make human mistake and always believe we have the correct count , we as human always trying to go to the minimum time frame possible. Many times this pattern is visible and workable in those small frames sometimes not , sometimes created a illusion or idea to be a correction and then break as a impulse . Today , I will explain how many traders and good traders are always trying to pick a top or a bottom.
Picking as I call it is a illusion , many times we are waiting for a level and we believe that the top or bottom just to found out that the market pass by the level without any resistance , so what was wrong , where picking a bottom or top is a mistake . the best bottom or top is the one we all knows , is waiting for the top or bottom formed by its self , seeing five waves in the hourly chart and the when wave A and C overlapped , getting in favor of the trend or five waves .