A Wave 2 Fractal

Wave 2 Fractal

One of the more interesting lessons to learn from Elliott Wave Principle is the fractal nature of wave patterns. Fractal meaning that wave patterns are repetitive in all degrees of waves.

The above chart is an excellent example of this particular prinicple side by side. Observe how I have labeled the chart. The smaller wave (ii) appears to a be finished zig-zag correction  and  I would expect a five wave wave (iii) to be in process. We’ll wait to see what happens from here, but this appears to be a high probability trade to the downside.