The Elliott wave Theory was developed in 1930 and of course the most popular pattern is the 5 waves advance and 3 waves back to correct the advance or decline. Since the Theory was developed the Marketplace has changed some as well as the charting tools we have at our disposal now. Consequently the main idea has been seen many times that there is not always an advance in 5 waves nor every 3 waves is a corrective move. We used the $GBPUSD from the peak at either 1992 or 2007 to describe the Theory and how the swing from 6.23.2016 changes a possible 24 hour sequence or at least a 9 year sequence from 2007. The decline from 6.23.2016 is not a 5 wave impulse and consequently affects the previous sequences. The message in the video explains how downgrading and upgrading the time frames are the key to being right. The market is not always trending in 5 waves. Many wavers tend to force the 5 waves and are missing the main point that Elliott Wave Theory needs to be applied into the smallest details otherwise it is not possible to trade with the Theory as a stand alone method. Markets are correlated with several groups of instruments that will be trending together one way or the other & will help define the most likely wave count. I am sure many waver’s realize there is always several so called valid counts however without the trend and correlation with related markets a likely market outcome can not be defined which makes trading with the Theory alone a tough proposition. We hope you enjoyed and if you like the video and want, you can take a free trial here and see more than 50 instruments in 4 time frames charts with the Elliott Wave counts as well as attend or view several live sessions and videos everyday.Back
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