Now the 4th wave in the EURUSD decline shows what could be a nice example of equivalent to an extension for triangles: a triangle in a triangle.
Could sound confusing but its really simple: When a triangle is forming under elliott wave perspective, some times one of it's waves instead to be a zigzag (the most commonly accepted structure inside it) forms a new smaller triangle.
This is more common with waves c, d or e.
In this case we are witnessing a triangle as wave D) with all it's corrective structures ( A,B,C,D and E) inside it. Once finished the triangle that works as extension, the rest of the pattern continue as usual.
As with extensions in other structures in a triangle, the pattern usually do not show more than one extension (but this is a guide and not a rule).
What we should expect from here is more decline to complete the 5)) wave that is now forming.
Could sound confusing but its really simple: When a triangle is forming under elliott wave perspective, some times one of it's waves instead to be a zigzag (the most commonly accepted structure inside it) forms a new smaller triangle.
This is more common with waves c, d or e.
In this case we are witnessing a triangle as wave D) with all it's corrective structures ( A,B,C,D and E) inside it. Once finished the triangle that works as extension, the rest of the pattern continue as usual.
As with extensions in other structures in a triangle, the pattern usually do not show more than one extension (but this is a guide and not a rule).
What we should expect from here is more decline to complete the 5)) wave that is now forming.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.