Eliott wave - Trend line forecasting

Eliott wave - Trend line forecasting Using Paralell trend channel is one of the accuracy methods on elliott wave forecasting technique. Elliott noted that paralell trend channels typically mark the upper and lower boundaries of the impulsive wave. The analyst should draw them in advance to assist to determining the target and provide clues to the future developments of the trend. To draw the channels we need at least 3 reference points.

To predict wave 3 target, draw the line from peak of wave 1 paralells the trend line drawing from the bottom of wave 1 and peak of wave 2.

To predict wave 5 target, draw the line from peak of wave 3 paralells the trend line drawing from the peak of wave 2 and peak of wave 4.