glennmercer
Long

Combining Elliott Wave with Advanced Patterns

FX:EURGBP   Euro / British Pound
Hey traders! Short lesson in wave theory and pattern analysis here. Advanced patterns and EW theory are great supplements to one another. I find that the most successful advanced patterns are "pieces" of waves and that each pattern correlates directly to a corresponding wave count. I like the Gartley for trading zig-zags because we can target higher targets than the XA termination of the advanced pattern . Here, a Gartley could complete to spark the rally to the end of a zig-zag . From target, we can either continue into a double zig-zag or continue the drop toward bearish targets. Happy trading!
Comment: This one's filled, everybody. Let her ride!
I've moved my SL to B/E
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Comment: T1 Achieved! Excellent price action out of the PRZ as predicted by the EW count. EW correction + Gartley pattern can be a powerful combination
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Trade closed: target reached: That's all folks! Nice victory on a 5:1 48 pip run. I added more at the completion of a triangle reversal, see below:
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although I wasnt in , but amazing trade !!!! congrats mate
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Almost, but I love the idea of combining Elliott Wave with Harmonics.
+1 Reply
glennmercer PRO OrangeTrader93
Yes orange, very powerful. This reached target today.
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