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Wednesday, 14 November 2012

EUR/JPY H4 Update

Let's violate one of the crucial rules of Elliott Wave Principle: wave 4 can't overlapse wave 1 and see what will happen.

In leveraged markets this kind of overlapse can be acceptable by come Elliottisians, but here I would like to point out that rest of the waves create a very nice, regular impulsive pattern, just this middle of wave 3 is a little skewed. Alternative labeling  of this wave c would be an ABC to the downside but overall "look" of ths wave is clearly impulsive.

Nevertheless, let's see where we can go with that.

Time will tell.


Seb


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