On the other hand waves i and ii can be just correction in wave 4, so we have to wait till wave ii is done. If the bottom of wave ii is lower then wave c, we are still in wave 4.
Friday, July 29, 2011
2011-07-29 - eurusd - last growths before bigger correction?
On hourly chart we can see end of wave 4 and beginning of wave 5:
On the other hand waves i and ii can be just correction in wave 4, so we have to wait till wave ii is done. If the bottom of wave ii is lower then wave c, we are still in wave 4.
On the other hand waves i and ii can be just correction in wave 4, so we have to wait till wave ii is done. If the bottom of wave ii is lower then wave c, we are still in wave 4.
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Elliott Wave Theory is a method of technical analysis that looks for recurrent long-term price patterns related to persistent changes in investor sentiment and psychology. The theory identifies waves identified as impulse waves that set up a pattern and corrective waves that oppose the larger trend.
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