OK, I know, I have said that I don’t like DP setup unless they are at larger degree DP support/resistance. However there is one exception, and that is when the DP comes at the end of a clear clean 5-wave swing.
This is exactly what happened in this example, please see the chart to the right, where you can see the Elliott Wave module in MTPredictor found a 5 wave decline. Notice how the low was also at the minimum Wave 5 WPT. We also had STF and Stochastic divergence at the low as well.
This is what made this DP buy a good one to consider as it was also at the end of a good looking 5-wave sequence and was supported by good divergences.
Thanks, Steve
This is exactly what happened in this example, please see the chart to the right, where you can see the Elliott Wave module in MTPredictor found a 5 wave decline. Notice how the low was also at the minimum Wave 5 WPT. We also had STF and Stochastic divergence at the low as well.
This is what made this DP buy a good one to consider as it was also at the end of a good looking 5-wave sequence and was supported by good divergences.
Thanks, Steve
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