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Elliott Wave 2 observations

I've started trading in earnest with MTPredictor finally on demo accounts after two weeks of monitoring and observing the automatic setups on currencies from daily down to 15min timeframes. So far so good, short trades on EURCAD on 3 timeframes on 04/09/14 produced +65R which was fun!

Ed, Private Trader

Elliott Wave 2 observations

Elliott Wave (2) generally unfolds as a simple abc correction

In most cases Wave (2) usually unfolds as a simple ABC correction. Or put another way, a simple ABC correction is found in a Wave (2) correction more often than in a Wave (4).

Again, this is a very useful piece of information, because once Wave (1) is complete, then the most likely pattern to unfold is a simple ABC correction.

And, because of the rule of alternation, this leads onto Wave (4) usually being the complex correction in a completed 5-wave sequence.

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