GBPUSD Has Begun Minuette Wave 5

7월 3일

The wave count above is hardly orthodox. In fact, I've broken at least two different Elliott rules (wave 4 enters the price range of wave 1, and the expanding diagonal doesn't fully expand). I am, however, extremely confident based on the price action that the pattern matches what would be a textbook impulse.

Why am I confident of this while breaking two rules? I guess it is intuition I developed after thousands of hours of placing numbers and letters on a chart. If you have a better wave count that doesn't break the rules, please do share it with me.

We should now see another impulse up before the next decline.