GBPUSD Has Begun Minuette Wave 5
The wave count above is hardly orthodox. In fact, I've broken at least two different Elliott rules (wave 4 enters the price range of wave 1, and the expanding diagonal doesn't fully expand). I am, however, extremely confident based on the price action that the pattern matches what would be a textbook impulse.
Why am I confident of this while breaking two rules? I guess it is intuition I developed after thousands of hours of placing numbers and letters on a chart. If you have a better wave count that doesn't break the rules, please do share it with me.
We should now see another impulse up before the next decline.
Why am I confident of this while breaking two rules? I guess it is intuition I developed after thousands of hours of placing numbers and letters on a chart. If you have a better wave count that doesn't break the rules, please do share it with me.
We should now see another impulse up before the next decline.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.