Ralph Nelson Elliott developed the Elliott Wave Theory in the 1930s . 1 Elliott believed that stock markets, generally thought to behave in a somewhat random and chaotic manner, in fact, traded in repetitive patterns. KEY TAKEAWAYS 1. The Elliott Wave Theory is a form of technical analysis that looks for recurrent long-term price patterns related to persistent...
As NFP news early this moth made a rally or impulse to the downside in OANDA:XAUUSD , now we enter in a corrective phase to fill the vast ineficiency created by this news. As we enter this corrective phase, perfect buy zones are 1760 - 1750, and in particular 1756.5. I suspect that the corrective phase will last 25 - 35 days. Is perfect moment to activate EAs...
AOI = Area Of Interest UJ = USDJPY LTF = Lower Time Frame
UJ CAN BE IDENTIFIED AS A FAKEOUT IN THE LONGER TIME FRAME TREND
I placed this trade a couple hours ago... might go very well.
Just buy EURGBP... Makes sense to me.