100% Guarantee

Prudently applied, Elliott wave principles provide the most accurate forecasting insights.

I mark the latest move in cable/kiwi as a wave A.
This is an impulse.
Key methodology criteria to mark the wave are on the chart.

What is next? Definitely, another move to the upside to complete the basic corrective pattern.

What type of a pattern am I expecting?
The most probable is a simple zigzag.
- The first move (impulse) - is the wave A, as mentioned above.
- Current choppy move - the wave B (price action typical for B-waves).
- Next move will be a 5-waves-move: whether a classic impulse, a or an ending diagonal.

Start of the wave A (impulse) may not be broken.
Where will the wave B go? Most likely, there is liquidity at the extreme of wave 1 of A. That’s the primary target.
Why? It is a topic for an individual methodology post.

Simple as that. Clear guidance and rules. The only thing you need - is Motivation and Diligence.

Good luck and have a nice weekend!


Disclosure:

This post expresses my own opinions based on proprietary technical analysis and is subject to change without notice. I undertake no obligation to correct, update or revise the information in this post or to otherwise provide any additional materials.
I am not receiving any compensation for it, other than my own trading and investment results, and accept no liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.
Any projections, outlooks or estimates herein are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the performance of the financial instruments discussed in my posts. Traders should make their own decisions regarding the prospects of any financial instrument based on such traders’ own review of publicly available information.