Quote:
quote:Originally posted by elliot wave
The Elliott wave implications of the yen's sideways pattern are clear: Prices just competed a special "contracting triangle" that's been in the making for ten years, and the scope of the resulting move should be equally large. Jeffrey's forecast is explicit:
"When you spot a contracting triangle at any degree of trend on a chart, it's worth getting excited about, because this wave pattern portends a swift move in price. But for me, the most exciting find is one that has taken years to form, because a multi-year, strong, trending market often follows. That's exactly what I believe will be the case in the coming years for the Japanese Yen."
anyone care to help me understand what they are saying here?