A wave 4 (blue) typically does not exceed the 50% retracement. A break above the 50% makes a wave C (magenta) more likely than a wave 3 (blue).
4 hour EURUSD:
A WXY (green) could be unfolding within wave 4 (blue).
60 min EURUSD:
A wave 3 (magenta) decline has been completed and price could now retrace for a wave 4 (magenta).
4 hour GBPUSD:
The usually turning spot for a wave 4 is the 38.2% Fibonacci retracement level.
60 min GBPUSD:
The USDJPY could be expanding the corrective pattern with another WXY (light blue).
4 hour USDJPY:
The trend lines help with identifying whether the price bounces or breaks at support and resistance zones.
60 min USDJPY:
Published On Tue, Aug 5 2014, 06:39 GMT