$GBPUSD - Elliott Wave Principle - a short course.

FX:GBPUSD   British Pound / U.S. Dollar
1753 4 15
Original title of the first edition is: "Elliott Wave Principle. Key to Market Behavior". It's a very simple key. Good advice - buy the book and read it. Do not use the nonsense contained in the network.

There are three basic rules:

Rule 1: Wave 2 can not retrace more than 100% of Wave 1
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1

The first wave may be, for example ... a triangle.

For a proper labeling the waves, use:


To be continued....
Nice Job

I'm still learing EW but I think this could be wave 4.
hehe traderWgun
It's not my pair. chart was educational. But .... imo .... it looks like a return to the triangle.
...a small error:
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