Preferred Elliott wave view is that mid-term peak has formed at 1.5123, wave A completed @ 1.4464 and wave B  in progress toward 1.4750 – 1.4792 area from where the decline should resume. Rally from 1.4463 – 1.4648 consisted of 7 swings and completed wave (( a )) of B. Pair has already tested 50% […]

The Equal Legs is a term used in the technical analysis to indicate that the magnitude of a movement is equal to another movement joined by a correction. It is represented as follows:     Where the magnitude of the swing A is equal in magnitude to the swing C (A = C) and B is the correction. This method is widely used in Elliott Waves identifying targets or […]

Pair has been trading lower after a test of 0.8400 which we believe completed wave A (cycle from 0.8153 low). Decline so far is in 3 waves so it’s a corrective decline just like the previous updates had been reflecting. Reaction off today’s low suggests wave (( a )) is in place and pair is […]

Pair has been trading lower for the last week or so. Let’s take a look at some charts from members area to see how NEW Elliott wave theory called the move lower in GBPUSD pair GBPUSD March 10/2014 (New York Update)   GBPUSD March 12/2014 (Mid-day Update)   GBPUSD March 13/2014 (London Update)   GBPUSD […]