The best chart pattern for forex trading signals

The best chart pattern for forex trading signals

Elliott Wave pattern

Zigzag

A zigzag is a sharp, three-wave corrective pattern, labeled A-B-C. Wave A is always an impulse or leading diagonal, and wave C is always an impulse or ending diagonal.

Wave B is always a corrective wave, that is zigzag, flat, triangle or combination. Therefore, we call the zigzag a 5-3-5 structure

In a zigzag, wave B can never go beyond the start of wave A, and wave C almost always goes beyond the end of wave A. If wave C does not go beyond the end of wave A, it is called a truncated wave C. Zigzag corrections can take the form of one, two, or three zigzags. Three zigzags appear to be the limit.

zigzags A zigzag is a simple three-wave correction that subdivides into wave A (five waves), wave B (three waves), and wave C (five waves)

Measured Move

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Measured Move Up : Prices move up, retrace, and then move up Again.

The Measured Move is a three-part formation. The Bullish Measured Move consists of a first leg uptrend , bearish correction/consolidation, and second bullish leg or wave.

First leg

Most times prices follow a trend channel upward before entering

the corrective phase.

Corrective phase

Prices decline, usually between 40% to 60% of the first leg move .

Second leg

Prices rise, loosely following the slope of the trend line set by the

first leg. Prices commonly fit inside a channel as they rise, but this

behavior is not a prerequisite

Measure rule

Calculate the height of the first leg from highest high to lowest

low. Add the difference to the lowest low in the corrective

phase. The result is the expected target price. For a more

conservative measure, use half the first leg height. Decide if the

predicted move is worth the risk of a trade.

in classic technical analysis patterns called The AB=CD pattern

the zigzag pattern is the most important pattern we used in best forex signals to generate forex signals