One question I get asked a lot is how do we get “confirmation” from the larger degree trend when the 15min pattern has not “completed” when I get a 3 or 5min setup ? This is a good question, and does require a bit more analysis.
Fort this we have the “Elliott Wave” module in MTPredictor, where you can place the Elliott Wave on the chart. As you can see form the chart, this module also places the WPT levels on the chart for you. In this way you can see whether you are at WPT support or resistance “before” the 15min patterns completes. You can then make a decision on the 3 and 5min trade.
But I always suggest you come back to the 15min Charts to check that the pattern did indeed complete and as such have the extra confidence of the larger degree trend....
Thanks, Steve
Fort this we have the “Elliott Wave” module in MTPredictor, where you can place the Elliott Wave on the chart. As you can see form the chart, this module also places the WPT levels on the chart for you. In this way you can see whether you are at WPT support or resistance “before” the 15min patterns completes. You can then make a decision on the 3 and 5min trade.
But I always suggest you come back to the 15min Charts to check that the pattern did indeed complete and as such have the extra confidence of the larger degree trend....
Thanks, Steve
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