Hello traders! I wish you all of you profitable trading week!
I would like to share some material for you regarding the Major Forex Pair and Harmonic Patterns.
Elliott Wave Coverage.
We have strong and clear impulse down as I marked Wave 1. It consists of leading diagonal structure (i-ii-iii-iv-v)
Then as expected waves (a)-(b)-(c) as corrective Wave 2.
Wave (b) is triangle
Harmonic Patterns & Elliott Wave
On my chart I have tried to show than Harmonic Patterns just an easy and special case of Elliott Waves.
As EW helps too see bigger and full picture of Waves structure, Harmonic Patterns could be effective on local level and help to identify pattern.
Both methods are highly respect Fibo levels.
Could you please share in comments what method (EW or Harmonic P) is more preferable for you and why? Thanks!
I would like to share some material for you regarding the Major Forex Pair and Harmonic Patterns.
Elliott Wave Coverage.
We have strong and clear impulse down as I marked Wave 1. It consists of leading diagonal structure (i-ii-iii-iv-v)
Then as expected waves (a)-(b)-(c) as corrective Wave 2.
Wave (b) is triangle
Harmonic Patterns & Elliott Wave
On my chart I have tried to show than Harmonic Patterns just an easy and special case of Elliott Waves.
As EW helps too see bigger and full picture of Waves structure, Harmonic Patterns could be effective on local level and help to identify pattern.
Both methods are highly respect Fibo levels.
Could you please share in comments what method (EW or Harmonic P) is more preferable for you and why? Thanks!
Comment:
Looks like we start drop
Comment:
Not super fast, but step by step EU is falling which is good news for my analysis.
Trade closed: target reached