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Originally Posted by ist
If these patterns are to hold we will be looking back at a reversal from 5600.
On the 1hr this implies revising the original hypothesis (smaller green ellipse drawn) and instead we will expect reversal to Z (61,8% of XY) or ZZ (100% of XY). Such revision will also bring consistency between the 15min and 1hr timeframe. ZZ corresponds in time with fractal cycle last months.
IST
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Hello Ist... everyone...
ist... Does ellipse trading work for you?
I have seen many applying it but they ussually quit doing it.
Any down move will be capped at 1.5500,,, if that breaks again,, then goodbye 1.6... which I can't see it happening.
If you got any intresting read on ellipse,, would appreciate the links.