$GBPUSD - Elliott Wave Principle - a short course.

Original title of the first edition is: "Elliott Wave Principle. Key to Market Behavior". It's a very simple key. Good advice - buy the book and read it. Do not use the nonsense contained in the network.

There are three basic rules:

Rule 1: Wave 2 can not retrace more than 100% of Wave 1
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1

The first wave may be, for example ... a triangle.

For a proper labeling the waves, use:

elliottwavepredictio...f-trend-color-codes/

To be continued....