An overview of the
currency markets by 
Hello everyone.
Let’s take a break from the EUR/USD and take a look at another one of our favorites - the GBP/NZD.
We completed a large movement down and then did a 3 wave movement up (a, b and c) and am now heading back down in a 5 wave movement.
We came down to wave i, up to wave ii, down to wave iii and now heading back up to complete wave iv before going back down again in wave v.
The nice thing about this is that we know from our Elliott Wave rules is that Wave 4 cannot overlap the range of Wave 1. So, if the pair goes above the black lines, then this wave count is invalidated. If it turns below back and heads down below the black line, then we know we have a high probability movement down.
We hope everyone has a very nice weekend. Don’t forget that we’re also on Twitter. You can follow us at www.twitter.com/propipper.
Apply your money management, use your stops and check your announcements. Good luck.
