"3 trades since last Friday with a total of 16.5 R profit. Before starting with MTP on Friday I did nothing but loose. Don't know how to thank you. Still waiting for the inevitable 1 R loss " Then "since a week ago Friday, I did 7 trades with a 23 R profit and a 1 R loss. Wow. :)))))) I'm soooooo happy
Daniel, Private Trader
In most cases Wave (2) usually unfolds as a simple ABC correction. Or put another way, a simple ABC correction is found in a Wave (2) correction more often than in a Wave (4).
Again, this is a very useful piece of information, because once Wave (1) is complete, then the most likely pattern to unfold is a simple ABC correction.
And, because of the rule of alternation, this leads onto Wave (4) usually being the complex correction in a completed 5-wave sequence.