EURGBP, finish a 5 wave sequence and on the run for the three wave corrective sequence of ABC which make it up as head and shoulder , price is expected to move to the 0.786 or 0.618 fibo level as per wave rules and law
Makes sense does it also mean u have to wait for the neckline to be broken?
dammy2020
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@wazanga02, yes, base on price action but base on wave it doesnt require and that might also be a fake , but according to the elliott rule wave 3 , 4, 5 ,a ,b, c formation is called head and shoulder