$AUDUSD Wolfe Wave, Point 4 In SightHello Traders,
In this Wolfe Wave I want to highlight the internal moves between the points.
Points 1-2: You want to look for an abcd pattern in the development of points 1-2. Though it is not always the case this usually helps define whats coming later on.
ab=cd
Points 2-3: Similar to 1-2, 2-3 also forms an abcd pattern. 2-3 is typically the longest wave in length and time. It can also possess more complex internal wave patterns as the points are being created.
Points 3-4: This path is similar to point 1-2 as it forms another, smaller, abcd pattern. If point 1-2, for example, is an impulse move, look for 3-4 to act in the same manner.
Points 4-5: There are a number of moves that can develop between these points, another abcd, ZigZag pattern, or a swift move to the downside is possible. This move is really what I am interested in seeing in this chart!
Finally, I want to hone in on the 1-4 trajectory line and how it can potentially help us figure out where point 4 is. Notice how I place the trajectory at an angle that acts as an anchor throughout the formation of this Wolfe Wave. I would also be interested to see how this plays a role in this formation.
If you find this chart helpful please let me know by liking and following! :-}
Thank you,
-Chartistry
