Good day traders!

This is the first of a series of educational posts we will be releasing here on ForexAnalytix.com . Today, we will take a look on one very common Elliott Wave pattern; a triangle. This is a five wave move in a sideways price action between two contracting trendlines labeled by A-B-C-D-E letters. Usually, when this move is completed, the market will make a strong (impulsive) break out of the range that will normally accelerate when extreme of wave D is taken out.  For more details about triangles please check our video below in which I also analyse EURUSD recent price action.

Have a good day,

Grega Horvat