Technical analysis is a useful tool to help us pre-determine market direction before hand. We are in a wave 5 phase of Elliott Wave Theory impulse move. Impulse moves are very easy to understand and are very basic if you talk about Elliott Wave people think of impulses, waves 1 and 4 never overlaps wave 3 never the shortest.
To confirm this is an impulse move we have to see price complete the fifth wave, note there are cases where we have a wave 5 truncation ( wave 5 failure) not often but possible. We have to be watching the fifth wave structure we 1-2-3-4-5 sequence either impulse or diagonals.
To confirm this is an impulse move we have to see price complete the fifth wave, note there are cases where we have a wave 5 truncation ( wave 5 failure) not often but possible. We have to be watching the fifth wave structure we 1-2-3-4-5 sequence either impulse or diagonals.
