Price action is the king in price data analysis; momentum indicators help measure the legs’ strength. Elliott Wave is a cycle tool; everything in life has cycles, including markets. These cycles can be balanced or imbalanced. As traders, we look for imbalanced setups to act and trade. We identify these opportunities during corrective waves in the Elliott Wave theory, 2,4, and B.
This week the SPX500 and the EURUSD will start their second waves of corrective patterns; please find on the weekly video the details.