NZDUSD has created points 1,2,3,4, and is now looking to complete points 5 and 5' of this .
One indicator I use to know if a is complete is the use of .
ab is the move from point 2-3. , therefore you must clone the ab line and place it on point 4. The completion of this move points to 0.73744.
The Geo' in this case would be completed at 5'(5 prime). Following Geo's Off-Set Rule I would be looking for a completion at point 4, 0.66750.
Geo' completion at 5' Geo's Off-Set Rule #2 at point 4 as a target. Also consider larger Geo' in original post.
Next week can be the start of Wave 3 of an Elliot Wave Impulse move to the downside. The red arrows in no way represent the trajectory of the Impulse Wave. It is simply a visual.
Geo's Off-Set rule remains in force.
I was just looking at the chart I posted. It looks like the ab=cd pattern was stopped short by Fib's 0.618
I have seen a few scenario's where the ab=cd pattern will get stopped out by a fib level. Typically 0.618(0.382) or 0.114(0.886). The numbers in the parentheses being the inverse fib levels.
You can see the same occurring in EURUSD in the chart below:
and another example:
Most time's however, the ab=cd pattern completes. The fib level gives you another layer of knowing the key levels of reversal.
Hope these examples help.