USDCAD 4H ... like our analysis on Sunday we predicted the correction phase but didn't expect this elongated correction that has happened for the whole week . Price is completing wave (c) of a zigzag pattern this would allows us to sell the pair to target 1.35509 once the correction is done

XAUUSD (GOLD) 1H , price is most likely to keep trading higher as the trend is still strong trading for wave 5 without any sign of exhaustion .am expecting an extended wave 5 which means couple more buying opportunities

TODAYS LESON ..... HOW DO YOU REMAIN FLEXIBLE . as a trader you don't want to force your will in to the market , the market can do what it wants when it want.your job is to make projection and react when shows willing ness to go with what your projection . The key here is patient . Okey lets see what to do when the market is going against your projection

Example .. this is eurusd 4h chart .. our analysis is that price should be trading lower to wave 3 . We expect this week price to be trading wave 2 with todays price completing the correction and next week price to maybe start trading low

EURUSD 1H ... the 1h chart confirming our 4h analysis . Price is completing the final zigzag wave C of a complex double zigzag WXY.. so there should be a buying opportunity

Now this is our analysis this is our projection price doesn't have to go there but if it does we will take the opportunity to get involved . But we are human and we make mistakes so ,WHAT IF WE ARE WRONG ?.

See ELLIOTTWAVE has a solution for that . we were introduced in the concept of alternative count . The idea of alternative count was to be flexible in our analysis even when we are wrong we could get back on track and keep up with the market

SO THIS IS AN ALTERNATIVE COUNT . When EURUSD does not ,or fail to trade higher price might be trading this VIEW .. now this is our alternative count meaning we won't consider trading this until price fails to trade above the 61.8 fibonacci level and trade below wave I

There is a way to know when our main view is failing early and maybe catch the drop early . That is using the smaller timeframe but that would open the count to further alternative counts leaving you with more than 5 alternative count , although for us experienced traders its better when we have more than 4 alternative counts because we know that is the time to stay away from the market on that particular time. when price eliminates 3 to 4 counts and your remaining with 2 or three , your have a high probability setup coming . But for you you should have a maximum of three .

This is the most important subject to understand on elliottwave that will help you be profitable in long run .and am aware that most people haven't understand this because I also didn't understand it when I started but save this massage go through it again and again and if you don't understand come and ask I will explain .if you understand try applying it to other pairs like gold silver or GBPUSD

THIS COURSE WILL FOCUS ON SHORT TERM DAILY SETUP . Suitable for those who want to trade in volume with huge risk to reward.. the course will be private via zoom meeting .,

Contact me @mwakasole to join

From this lesson we should do more exercise . So am sending you my analysis on XAUUSD AND XAGUSD . Your job is to create an alternative count that compliment my count that if my analysis fails you immediately look for opportunities from your analysis

Remember if you don't practice like this you will never learn elliottwave

XAUUSD (GOLD) .. I think since we are expecting bullish pressure ,the correction phase of this sequence should never take too much time . I think this correction is enough so am looking for buying opportunities to target wave 5 high or higher

XAGUSD (SILEVR ) 4H ... unlike gold this pair was in a great impulsive move with price currently trading on wave (4) . I think the correction phase is far from over and we might see another bearish leg to complete a correction wave (4) then price to start pushing for the final wave (5)