It has been a long time I did not using Elliot Wave for my analysis. But now I have to use it, for EURUSD. I buy EURUSD for a few times since last week, and close for 140 pips banked into my Instaforex trading account.
But the movement is not as what I expect. The price action and its movement is very difficult to predict.
Since this is quite difficult situation on EURUSD, and I believe that this is a triangle or complex wave pattern. See the chart below.
If abcd is valid, then the price should going up to complete sub wave e then the price will start going down from e.
Otherwise, If the price break out and close below the lower triangle, then I will cut the loss. But I do hope, this counting is valid and give me some profit for year end shopping.