GBPJPY has broken the main trend line due to the help of NFP today. i believe that it will try to make a quick correction to test the trend line before falling down and making new lows. lots of pips to come in the coming weeks, i will be posting more updates on this par and maybe a few others please follow me for ...
On this AUDNZD we can see my Elliott Wave count on the 4H timeframe. I think we are soon going to start the fifth wave and from there make an ABC correction. My fifth wave length is based on the first wave length.
Elliot Wave Noob. Think we are in Wave 5 (the sucker wave up). Wave 3 is shortest - I know this violates official rules. If we are in wave 5, then top is around 2360. Comments. Again, learning wave theory. Trying to apply it, on paper.
If we take a look from 2006 the full view seems very probably we are in a expanded flat.
Actually the decline from 4.6480 seems to be the 1)) wave o a C] wave
The decline have several hints to confirm this view:
Wave 4th has a near to 50% retracement and is in a contractile triangle shape
Wave 5th is the ...
There are two deep crabs on the monthly DJIA chart with the largest spanning nearly 10 years. That puts us right inside of a massive harmonic potential reversal zone. IF this PRZ holds we could see a very deep retracement of the bull run of the last 7 years. HOWEVER, if this harmonic reversal zone fails by becoming ...
Hmmm as I progress understanding of wave theory, I like to look at the charts differently and expect the unexpected. This to me appears as a "expanded flat" I've quit trading the animals because Ive realized the importance of wave structure! Have a great weekend!