Hello traders, after reviewing my previous chart, I decided to create a fresh chart as I had put too much emphasis on an indicator and not price action. I'm currently trying only a new combination of Wyckoff and Elliot counts (Fractals).
I've focused on only keeping VIX, RSI, and EMA as indicators. I still believe we are entering the 5th wave move and have already created the 1st wave and we are currently in the second wave retracement. I made the mistake of entering too early and now have to sit through the current negative cycle. This is because I didn't pay attention to price action and purchased widespread candles with high volume and didn't take time to markup the Wyckoff stages. If we are now in the second wave retracement we shouldn't go below 88.5 Fibonacci, if we do we will enter a much stepper down cycle and my count is completely wrong. I hope not! Good luck!
I've focused on only keeping VIX, RSI, and EMA as indicators. I still believe we are entering the 5th wave move and have already created the 1st wave and we are currently in the second wave retracement. I made the mistake of entering too early and now have to sit through the current negative cycle. This is because I didn't pay attention to price action and purchased widespread candles with high volume and didn't take time to markup the Wyckoff stages. If we are now in the second wave retracement we shouldn't go below 88.5 Fibonacci, if we do we will enter a much stepper down cycle and my count is completely wrong. I hope not! Good luck!
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Typo - the 85.40 Fibonacci
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