Elliott Wave Analysis

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Wave Counts Traders are following now. There are also many methods for entering and exiting trades once a signal is deemed to have occurred. The next most fitting count is that the entire movement since the low of August 14 is part of a flat correction.

Trading with Elliott Waves

Elliott Wave Theory is a commonly used form of technical analysis that is applied to stock market charts for the purposes of forecasting the future direction of prices. The Elliott Wave Principle is founded upon the concept that stock market price movements are not a.

This part of the decline is now complete, but the decline as a whole looks like it needs one more dip lower. We continue to look for signs to support the idea that the downtrend has resumed.

Even though the decline is more in line with the main hourly count, the decline is — so far — in a three-wave pattern. We want to see an impulsive decline to gain further confidence in the bearish case. On the other hand, the alternate count expects that wave B blue has higher higher in store before giving way to a decline in wave C blue.

As expected the euro moved toward the downside and reached our targets, but the decline is now too long for the main count to remain preferable. The next most fitting count is that the entire movement since the low of August 14 is part of a flat correction. On the other hand, the alternate count expects that wave B blue has higher higher in store before giving way to wave C blue.

As expected the euro moved toward the downside, reached our first target at 1. Apologies for the late update.

Forex regulations are about to change on the 1st of August for all traders in the EU. Minor pairs will see an even larger…. October 1, Forex.

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