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Thread: Elliot Wave Trading
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Old 05-18-2007, 10:23 AM
Jamie Saettele Jamie Saettele is offline
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Quote:
Originally Posted by serhito
Hi,
I just discovered this section of the forum, and i am really excited to have a place where to discuss elliott wave principles. I am fairly new to it, still in the process of learning.

I have attached a chart of the USD index. I think that the counting on the upwave 1,2,3,4,5 makes sense, but i am having a hard time with the wave count on the correction. Any help would be appreciated.

(sorry the chart looks a little big)

Thanks.
Serge
Serge, you are correct that the rally from the late 2004 bottom is a 5 wave impulse. The decline that has followed looks like a double zigzag (two zigzags connected by an X wave). The entire decline is labeled W-X-Y.
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