Aleksandar Vichev
EWM Interactive
Yesterday in our intraday section we showed you a forecast of GBPUSD on a 5-minute chart. All we needed was a five-wave structure, which we had, so we were expecting more strength from this pair. Below you can see how the chart looked like back then.
On the next chart you will see how GBPUSD developed and currently looks like.
As shown, Cable made a new high in what we expected to be wave (3)/C. This situation is a good example of the Elliott Wave Principle being accurate and successful, even on the smallest time-frames, such as 5-minute. There is still some upside potential.
Trading financial instruments entails a great degree of uncertainty and a variety of risks. EMW Interactive’s materials and market analysis are provided for educational purposes only. As such, their main purpose is to illustrate how the Elliott Wave Principle can be applied to predict movements in the financial markets. As a perfectly accurate method for technical analysis does not exist, the Elliott Wave Principle is also not flawless. As a result, the company does not take any responsibility for the potential losses our end-user might incur. Simply, any decision to trade or invest, based on the information from this website, is at your own risk.
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