Hi All,
I'm working through all the USD pairs and I have also spotted yet another fall from USD similar to a post I shared with DXY and EUR/USD.
I have 2 counts in my head with this being my primary:
1. 5 wave Impulse down from the top for a wave 1 or A
2. Corrective wave 2 or B which has a ZZ shape but with an ending diagonal wave C
3. Of the C wave, wave 4 looks like a possible triangle as there are contracting pattern broken down in 3 waves
Secondary count;
1. Bracket wave ( iii ) is in fact the 5th wave of the ending diagonal with a series of 1's and 2's forming before a break to the downside.
I am watching this pair closely but in the short term, Bull or Bear, this pair will fall for a) a break of wave E of a triangle or b) start of bigger wave 3 to the downside.
Feel free to ask any questions and Happy Trading!
Don
Big Picture snapshot which looks very similar to DXY
I'm working through all the USD pairs and I have also spotted yet another fall from USD similar to a post I shared with DXY and EUR/USD.
I have 2 counts in my head with this being my primary:
1. 5 wave Impulse down from the top for a wave 1 or A
2. Corrective wave 2 or B which has a ZZ shape but with an ending diagonal wave C
3. Of the C wave, wave 4 looks like a possible triangle as there are contracting pattern broken down in 3 waves
Secondary count;
1. Bracket wave ( iii ) is in fact the 5th wave of the ending diagonal with a series of 1's and 2's forming before a break to the downside.
I am watching this pair closely but in the short term, Bull or Bear, this pair will fall for a) a break of wave E of a triangle or b) start of bigger wave 3 to the downside.
Feel free to ask any questions and Happy Trading!
Don
Big Picture snapshot which looks very similar to DXY
