AUDUSD is portraying a classic Elliot Wave as the 'V' wave has had a very flat trend, a diagonal wave and failed to gain much height from the peak of motive 'III' which represents a classic scenario of Elliot Wave Cycle....
The dying 'V' wave represents an initiation of a corrective trend thus depicting a probable 5-3 cycle in which the leg 'B' is already at play.
We could see the cycle completion at point 'C' before the trend continues.
*This is as per my understanding so far and any mistakes and further corrections or comments will certainly help as I am still studying principle.
The dying 'V' wave represents an initiation of a corrective trend thus depicting a probable 5-3 cycle in which the leg 'B' is already at play.
We could see the cycle completion at point 'C' before the trend continues.
*This is as per my understanding so far and any mistakes and further corrections or comments will certainly help as I am still studying principle.