| Re: Gbpusd
And now I'd like to make few things more clear for those new to EW.
The waves from the begining of the year look very much like an impuls so many of you are probably wondering why is than abc labeling. Well the ZZ (ZigZags) that are the most common corrective patterns have a similar structure as IM (impulses) and thats 5-3-5 (3 waves) vs 5-3-5-3-5 (5 waves). which means that wave a of the zz must be an IM or LD (leading Diagonal) wave b any corrective pattern and wave c must be an IM or ED (ending diagonal).
It is why you must always have a view on larger scale before you make a decision for your counts on smaler time scale. If they synchronize well then you have most probable scenario in play.
There are free resorces on the net so I think this is enough from me for now.
ID
Last edited by idejan; 08-04-05 at 07:27 AM.
Reason: PS. It is why wave 3 or C is the most easy and most rewarding to trade
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