Situation is global for all 3 charts - correction phase started. Minimal targets are 30%. You can place ongoing sell orders after rallies that will not lead to new heights. EUR/USD GBP/USD GOLD Subscribe in a RSS reader or by email through FeedBurner.
What if the 4'' wave is a 3 wave abc rather than a triangle and e' is really c' and the upmove runs up to the top of a' ?
I also had this wave count till yesterday (you can see lot of buys) but impulse didn't happen. So it's not zigzag with wave C. This assumption will be confirmed after price drops below 1.2626
I'd suggest you start learning the basic Elliott Wave stuff such as how to determine trend versus counter-trend, and learn how to identify an impulse trend pattern versus the two corrective patterns. Robert Miner has new book called âHigh Probably Trading Strategiesâ that deals with these EW basics, nothing complex yet fairly reliable stuff. If you're a beginner, then I'd recommend that you stay away from the complex EW stuff such Neely's book, though it is a great book, it would overwhelm you and you give up (later on you can read Neely's book, but not as a new EW trader). As a second book you could read is the previous R. Miner's book âDynamic Trading: Dynamic Concepts in Time, Price & Pattern Analysis With Practical Strategies for Traders & Investorsâ, it goes bit deeper into EW than his new book, yet again everything in his both books is very practical and most importantly deals with very objective ways to identify what is going on in the market. Stick with the basic EW stuff for now, and you'll be fine. As far as software goes, I'd recommend you stay away from software which automatically draws waves for you, and rather you draw and label it manually, you need to develop trading logic and not rely on some unknown software code to do it for you. All the best