The Elliott Wave Principle is made up of five waves and three waves. Jim from Elliott Wave International, in this short video explains how the Elliott Wave patterns work as applied to the EUR/USD. Watch it below and see how the three and five waves join together to form waves on lower and higher time frames.
How to Find Correct Elliott Wave Patterns in Market Charts
(Note: This video was originally recorded on August 10, 2007)
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(VIDEO) GBP/USD: How Elliott Wave Patterns Predicted Recent Drop Under 1.60
A great 6-minute video lesson in Elliott wave analysis of forex markets
By Elliott Wave International
Every Friday, the editor of EWI's forex-focused Currency Specialty Service, Jim Martens, records a video update for his subscribers. Each video delivers a real-life lesson on Elliott wave application to forex markets.
Watch this 6-minute video Jim recorded on October 12. Jim called for cable (GBP/USD) to drop below 1.60 in wave 5 of the developing Elliott wave sequence.
Ten days later, on October 23, GBP/USD fell as low as 1.5925.