My dear ellioticians, have you ever thought about relation betwen option implied volatility and e.w? I mean there could be something to do with as both are driven by emotions and fears. In times of fast price moving options writters sell them expensive as they are unsure/scared about where price could go. When these fast moves comes? I think in 3rd, maybe in sharp 2nds and in trend reversals. What do you mean? Could this identify a wave position in wave cascade?
Two charts attached for eurusd and gbpusd, red line is option implied volatility, compared with price and Average True Range (10 days).
Opinions warmly welcomed.
