Key Taking Points 1) Why Elliott Wave Theory needs to be adjusted to present times 2) What EWF has done to remove the suggestive element from Elliott Wave Theory 3) How to use Elliott Wave as a more practical trading tool 4) Use of EWF proprietary system to keep clients on right side 5) Introduction […]

Preferred view is that wave X has completed at 1.0637. While above this level, more strength is expected toward 1.0835 – 1.0875 to complete wave “b” on the daily time frame. Hourly cycles are positive so we don’t like selling in proposed wave ( b ) pull back.

Drop from 9951 – 9723 was a corrective 3 wave decline and stopped right in the middle of our green zone. (Recall Green Zone is the zone where we expect buyers to appear and traders can look for long positions). Buying has stopped the decline in the green zone so far. Let’s see what happened […]

EURUSD is getting close to 1.618 ext of 1.3893 – 1.3727 drop which should ideally complete wave (( iii )) down. Alternatively, pair is already in wave (( iv )). While below 1.3694 (50 fib), expect at least 1 more leg down in the pair to complete a 5 wave structure [jwplayer mediaid=”146150″]

Preferred wave count suggests wave ( 4) low is in place, wave 3 of ( 5 ) is still in progress which can test 3.08% before  wave 4 of ( 5 ) pull back starts. We don’t like selling yields in proposed wave 4 pull back and strategy remains to buy the dips in 3, […]

The cycles from 102.47 appears to have completed and pair is in wave X. The trend & cycles are positive so we don’t like selling the pair but corrective dips in 3, 7 or 11 swings ideally toward 103.59 – 103.95 area would offer a buying opportunity. This view is valid as far as pivot […]