Hi Everybody,
On the Standard Blog, I took a look at what I call the “holy Grail” setup. This is where the abc correction (TS4 sell) come in as part of the “initial correction”, to the “initial move” off an “important high or low”. In Elliott Wave terms, this is a Wave (2) correction. So let’s take a look at this chart, using the Elliott Wave module in MTPredictor.
As you can see, the software found a Major Wave (2) high at the TS4 sell, which was followed by a string Wave (3) decline. This is a perfect example of this Holy Grail setup.
With a +14R Profit available as DP support came in, this was a brilliant trade and yet another example of why this is my favourite setup......
Thanks, Steve
On the Standard Blog, I took a look at what I call the “holy Grail” setup. This is where the abc correction (TS4 sell) come in as part of the “initial correction”, to the “initial move” off an “important high or low”. In Elliott Wave terms, this is a Wave (2) correction. So let’s take a look at this chart, using the Elliott Wave module in MTPredictor.
As you can see, the software found a Major Wave (2) high at the TS4 sell, which was followed by a string Wave (3) decline. This is a perfect example of this Holy Grail setup.
With a +14R Profit available as DP support came in, this was a brilliant trade and yet another example of why this is my favourite setup......
Thanks, Steve
