EUR/GBP - Red wave ii ended a little lower than the expected 0.8251, but more importantly support at 0.8243 (the starting point of red wave i) was untouched and I will now be looking for a break above the small reflex point at 0.8277 indicating that red wave iii towards 0.8365 is unfolding.

EUR/GBP - Short term count

Red wave ii ended slightly lower than the expected 0.8251 (the low has been 0.8246). I'm now looking for a break above the small reflex point at 0.8277 as the first good indication that red wave iii is unfolding for a rally towards 0.8365 and maybe even higher.

Remember rule no. 1 of the Elliott Wave Principle, that says that wave two is not allowed to break below the starting point of wave one, which in the smaller degree count is at 0.8243, while in the larger degree count is at 0.8154.

Darryl
2014-09-14
Love the good work, most accurate I’ve found in my research. Darryl
Duane
2018-03-03
Hey EWS,

I just wanted to thank you for posting your charts. They are of great help to me. Your charts are a great teaching aid for learning Elliott Wave.

Duane
Hani
2014-06-06
I have been a fan of you blog for several years!
I am so impressed at your renewal.
Elliott wave analysis is so difficult to me, but so interesting and useful.

Thank you
Hani