EUR/USD: Weekly Elliot Wave Analysis
ELLIOT WAVE IMPULSE WAVE GUIDELINES
1. Alternation - The corrective wave 2 is sharp and therefore we expect wave 4 to be sideways.
2. Channelling - We have put the target of wave 5 on the upper trendline of a channel.
3. Ratio Analysis. In a normal impulse wave, wave 4 is usually at fib 0.382 of the whole 5 wave pattern.
Guidelines 2 and 3 are used to get the price target of wave 5
1. Alternation - The corrective wave 2 is sharp and therefore we expect wave 4 to be sideways.
2. Channelling - We have put the target of wave 5 on the upper trendline of a channel.
3. Ratio Analysis. In a normal impulse wave, wave 4 is usually at fib 0.382 of the whole 5 wave pattern.
Guidelines 2 and 3 are used to get the price target of wave 5
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