Elliot wave drawing on Daily chart
If we start drawing Elliot wave on EURUSD daily chart with minute degree where we will find out EURUSD currently trading towards 1.1850 at corrective “wave C” in next 2-3 months and it completed all motive waves where find out Wave 5 top 1.2352 (approx) Which may be the Wave 1 top on minor degree.
Since the “Wave-1” starts all the the motive wave are matched with Elliot wave rules.
Now if we talk about entire corrective wave mostly corrective waves formation are 3-5-3 or 5-3-5 Zigzag pattern or flat correction or may be a regular flat. So if we correct “Wave B” high at 1.2250(approx) next move towards 1.2000 level in the near future.
Since the “Wave-1” starts all the the motive wave are matched with Elliot wave rules.
Now if we talk about entire corrective wave mostly corrective waves formation are 3-5-3 or 5-3-5 Zigzag pattern or flat correction or may be a regular flat. So if we correct “Wave B” high at 1.2250(approx) next move towards 1.2000 level in the near future.
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