USDJPY ELLIOTT WAVE ANALYSIS ( 07-05-20 )

  USD/JPY Elliott Wave AnalysisForex Pair : USD/JPY   Date : 7th May 2020   Time Frame : 4 Hr   Elliott Wave Analysis :   Lest’s start our USDJPY Elliott Wave Analysis on the 4Hr chart. The chart seems to be showing the possibility of the completion of an internal 5-3-5 ABC corrective structure for the (X) wave of the larger (W) (X) (Y) correction in the higher time frame.   Breaking it down, we can observe the following price action sequence unfolding for the (X) wave in dark blue.   The A
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How To Effectively Interpret Market Structure Using Elliott Wave Analysis?

In Elliott Wave analysis, guess what is the first thing most traders look out for whenever they open a new chart?   If your answer is "Market Structure", you are spot on.   When it comes to any form of chart analysis, the most important element is ultimately Market Structure, period.   The ability to recognize, understand and interpret market structure is the pinnacle of all forms of price action trading methodologies.   This is especially true for Elliott Wave Analysis.  
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Failure To Adopt A Top Down Approach To The Elliott Wave Principle

  Your Starting Point Matters One of the most common mistakes I observed and made as an Elliott Wave Technician is the failure to adopt a systematic and “Top-Down” approach to using the Elliott Wave Principle. According to the Chaos Theory, the apparent randomness of complex and chaotic market conditions often depend on their initial conditions. Thus, we should always strive to start any form of technical analysis right from the top with all the available data if possible. Limited
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