As many of you are aware, I offer a consulting service at WaveTimes.net. Occasionally I share some of those cases with you to help you learn Elliott Wave analysis. The following is a consultation I did with a trader based in Singapore who wanted to discuss the outlook for USDSGD. Please note that wave counts are always a work-in-progress. While it worked out as anticipated at that time (the analysis was done on October 14, 2015 when USDSGD was trading around 1.3870) the outcome from the current levels needs a fresh look.
Establishing the broad big picture in USDSGD from an Elliott Wave stance
Figuring out weaknesses, if any, in initial analysis
In case you are wondering how it turned out, well here is a screen shot as of today, with the key turning points after 14 Oct marked out for you.
I hope you enjoyed the learning experience in this post. It will be great to see this shared with your friends in the market place. Best wishes, Ramki