Nicktan

Nicktan

Last month, I recommended a long position for USD/JPY with a target price of 112.40. This is based on the ABC correction pattern of Elliott Wave theory. Today, let's take a look at the time and how I estimated the time duration. It is based on Gann's theory of Price equal Time. If you look at the A leg of the EW. It began on 20 Aug 2100. and reached a high on...

Nicktan Updated 

From the low of 109.80, a 5-wave movement reached a high of 111.85. This was followed by a 3-wave correction that ended at 110.38. That was also the 62% Fibonacci correction of the 5-wave advance. From the low of B, we have seen a small rally followed by a small correction. Could what is going to unfold be the 3rd of the C wave? This could be the ABC 5-3-5 Zig Zag...