In this educational video, we are going to take a look at WXY Elliott wave structure which is one of the most important structures in the market. We explain why a WXY structure is not always a double zig-zag and hence the reason we call it a double corrective Elliottwave structure instead of a double zig-zag. Also, we talk about relationship between W and Y, how they are related to each other in terms of Fibonacci extensions, retracements of wave X. We talk about different trades that could be taken in a WXY structure and also look at two real world examples using GBPNZD and CADJPY charts. Elliott wave theory provides guidelines on how the market moves, then it’s down to the individual waver to adapt to the modern times by learning about extension / retracement relationships in a WXY structure and then use this information to take trades.
How to trade a WXY Elliott Wave Structure | Learn Elliott Wave | Elliott Wave Theory
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