FX:GBPUSD   British Pound / U.S. Dollar
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2
Possible C Wave decline spotted. Relatively new to labeling so other peoples interpretations/ constructive criticism are welcome.
Comment: Display of the chart is not how I originally labeled it. Looks incredibly messy from a zoomed out perspective. Unsure how to change layout.

Comments

you will have to use a higher time frame against the one you trade or multiple higher time frames - this will tell you the current wave you are on... so if you trade 4 hour - you will need daily and 12 hour to be your king ----- then count your waves on 4 hour with the RSI and also use the 4 hour for your divergence - you may have single oversold at daily but a double or triple top decline at 4 hour RSI
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JayB333 david311278
@david311278, Many thanks. I think I need to have a clearer understanding of divergence because when I look at divergence examples online I completely see it. Real-time though I tend to struggle to spot it and how that can tie in with my trade.
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forget the labels - teach yourself to look for zigzags - ending diagonals ----- also put your RSI to 5 periods and use it to count the waves --- do not use it for oversold or bought conditions
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