As I’ve said before, Elliot Wave is not my cup of tea. But, it is very popular and used by many.
Here’s a brief piece from Nomura with an Elliot view on USD/JPY. Unfortunately its from a day or so ago.
Quote:
What to watch today… …$JPY is working on a wave-iv (bullish) consolidation at the June downtrend zone. We expected the ~101.70 area to contain this consolidation in terms of price. Once complete a new march towards the key 102.27 level can unfold.
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Nice one indeed.
Any Elliot Wave traders out there like to comment or contribute, give us their views on any currency (or other trading instrument)?