Preferred Elliott wave view suggests wave “X” connector ended at 10864. Wave ((w)) took the form of a triple three structure & is proposed to be over at 11618. Pull back in wave ((x)) is now expected before rally resumes. Of interest, 50 – 61.8 fib area of ((w)) lies between 11244 – 11157. We don’t […]

Preferred Elliott Wave view suggests pair formed a secondary peak @ 181.03 and bounces are now expected to hold below this high for continuation lower. Decline from 181.03 peak is taking the form of a double three or ((w))-((x))-((y)) Elliott Wave structure when pair is currently in final leg of wave ((y)). Area between 177.65 […]

Double three is the most important patern in New Elliott Wave theory and probably the most common pattern in the market these days, also known as 7 swing structure. It’s a very reliable pattern which is giving us good trading entries with clearly defined invalidation levels and target areas. The picture below presents what Elliott […]