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Elliott Wave Analysis of EURUSD update
By Ramki4 Comments1 Min Read
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Sir. As always thanks for these insightful charts and details. Makes it all the more easier for those who are still learning how to use Wave theory along with summation series and the golden ratio. Just one question? Has there ever been an answer found for these kind of irregularities in wave 4. As to why at times wave B of Wave 4 go higher than the highs of both Wave A of wave 4 (corrective wave) and Wave 3 (impulse move)? Thanks in advance.
Hi Ganesh, the irregular b wave captures the pent up sentiment in the direction of the previous impulse wave that the whole abc is attempting to correct. Once you become comfortable dealing with Elliot waves, you will start enjoying these complex corrections while the uninitiated traders struggle.
Can the alternate be, Wave 3 ending at 1.391 (its 5th wave extended) and Wave 5 is approaching its end at 1.4?
Hi Naga, Sure,that is actually the right wave count, as I have learned in hind sight. Wave 3 at 1.3910/15 was 300% of wave 1, and wave 4 came down by 38.2% of wave 3.