Here is a perfect example of the Elliot 5 Wave with the ABC correction waves. We can see how price broke out the downtrending channel and tested the previous support. I'm looking to go long on this pair.
PFF formed a downtrend parallel channel.
A downtrend parallel channel (bearish channel) is a continuation pattern that slopes down and is bound by an upper and lower trend line.
The upper downtrend line it is called main line and marks resistance and the lower downtrend line it is called channel line and marks support.
For a bearish channel, the main line extends...
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