Nice example of triangle in a triangle
Now the 4th wave in the EURUSD decline shows what could be a nice example of equivalent to an extension for triangles: a triangle in a triangle.
Could sound confusing but its really simple: When a triangle is forming under elliott wave perspective, some times one of it's waves instead to be a zigzag (the most commonly accepted structure inside it) forms a new smaller triangle.
This is more common with waves c, d or e.
In this case we are witnessing a triangle as wave D) with all it's corrective structures ( A,B,C,D and E) inside it. Once finished the triangle that works as extension, the rest of the pattern continue as usual.
As with extensions in other structures in a triangle, the pattern usually do not show more than one extension (but this is a guide and not a rule).
What we should expect from here is more decline to complete the 5)) wave that is now forming.
Could sound confusing but its really simple: When a triangle is forming under elliott wave perspective, some times one of it's waves instead to be a zigzag (the most commonly accepted structure inside it) forms a new smaller triangle.
This is more common with waves c, d or e.
In this case we are witnessing a triangle as wave D) with all it's corrective structures ( A,B,C,D and E) inside it. Once finished the triangle that works as extension, the rest of the pattern continue as usual.
As with extensions in other structures in a triangle, the pattern usually do not show more than one extension (but this is a guide and not a rule).
What we should expect from here is more decline to complete the 5)) wave that is now forming.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.