(VIDEO) GBP/USD: How Elliott Wave Patterns Predicted Recent Drop Under 1.60

A great 6-minute video lesson in Elliott wave analysis of forex markets

By Elliott Wave International

Every Friday, the editor of EWI’s forex-focused Currency Specialty Service, Jim Martens, records a video update for his subscribers. Each video delivers a real-life lesson on Elliott wave application to forex markets.

Watch this 6-minute video Jim recorded on October 12. Jim called for cable (GBP/USD) to drop below 1.60 in wave 5 of the developing Elliott wave sequence.

Ten days later, on October 23, GBP/USD fell as low as 1.5925.

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Here’s some of what you’ll learn:

Which Elliott waves to trade
Which Elliott waves set up your forex trade
When your analysis is wrong
Guidelines for projecting price targets
How to evaluate an Elliott wave structure
How to use the bigger picture to give you perspective on the market’s next major move

Jim also takes you through two real-world trading examples to reinforce what you’ve learned and apply it to your own trading.

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This article was syndicated by Elliott Wave International and was originally published under the headline (VIDEO) GBP/USD: How Elliott Wave Patterns Predicted Recent Drop Under 1.60. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

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