By Elliott Wave International
“12345-ABC.” That’s a basic Elliott wave pattern in a nutshell. That “12345” is a so-called impulse, and it’s a key price pattern to know, because impulses point in the direction of the larger trend. In this clip from a recent Trader’s Classroom lesson, host Favio Poci shows you step-by-step how to spot an impulse and know when it’s likely over. (Market in focus: EUR/CHF, but you can apply this to any liquid market.)
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In about 1 hour, you’ll learn:
- “What do I look for?” — just what, exactly, should you look for on a price chart? See an easy way to spot an impulse wave.
- “What does it tell me?” — Impulse waves are great at showing you the direction of the larger trend (which, as you know, is “your friend”!)
- “Are there variations?” — Most impulse waves are simple, but some are… well, different. You’ll see how to quickly distinguish one from another.
This article was syndicated by Elliott Wave International and was originally published under the headline FX, Stocks, Commodities, Cryptos… Learn How to Know When This Key Price Pattern is Over (Video). 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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