We will talk about a 5 wave move in this Educational Video which doesn’t happen very frequently. When one finishes reading an Elliottwave book, they would try and look for a 5 wave move everywhere. Wave 1 is nothing more than a fight between old trend & a new trend. Wave 2 is when old trend wins for a short period of time until new trend takes over again and as it breaks above the high / low of wave 1, more people join the new trend and a powerful wave 3 begins which is usually the most extended one in a 5 wave move. Wave 4 is formed due to profit taking and wave 5 is continuation but with lack of momentum. Wave 5 doesn’t pass peak of momentum in wave 3. We take a look at Gold decline from July peak which is being labelled as a 5 wave move by majority of the wavers. We explain why it’s not a 5 wave move. We also invite you to download your FREE Elliottwave book by filling in your details at home page of Elliottwave-Forecast.Com
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