This is my primary HTF count for EURUSD.
Following Neely's Elliott wave rules:
- The impulse in wave A meets all impulse rules.
- Wave A of the triangle is an elongated flat - Which Neely states is almost always an entire leg of a triangle.
- I am watching for the C wave of the zig-zag to go to the top of the downtrend channel. This has confluence with 1.618 extension of A, when plotted from the approximate area of E's termination.
Let's see what happens!
Following Neely's Elliott wave rules:
- The impulse in wave A meets all impulse rules.
- Wave A of the triangle is an elongated flat - Which Neely states is almost always an entire leg of a triangle.
- I am watching for the C wave of the zig-zag to go to the top of the downtrend channel. This has confluence with 1.618 extension of A, when plotted from the approximate area of E's termination.
Let's see what happens!
Trade closed: stop reached:
Count was invalidated when we exited the top channel of the triangle and broke above the recent high.
On to the next one.
On to the next one.