USDCHF: Elliott Wave Count
My Notes:
We are in the end of a corrective wave (may be wave 2) of the main bull wave.
Why:
1/ This is not a impulse wave, because there is a overlap of wave 4 and wave 1 (pink line).
2/ The ABC also in form of 5-3-5 waves
3/ The bottom of the retractment of main bull trend (major wave 1) 61.8% fibo level.
Next, I am looking at the development of current wave: This is an impulse wave which had developed wave 1,2,3,4. If price breaks the pink line, this is a wave 5 (this is the 5 waves of major wave 3)
If price fail to break pink line, it may make a E wave.
We are in the end of a corrective wave (may be wave 2) of the main bull wave.
Why:
1/ This is not a impulse wave, because there is a overlap of wave 4 and wave 1 (pink line).
2/ The ABC also in form of 5-3-5 waves
3/ The bottom of the retractment of main bull trend (major wave 1) 61.8% fibo level.
Next, I am looking at the development of current wave: This is an impulse wave which had developed wave 1,2,3,4. If price breaks the pink line, this is a wave 5 (this is the 5 waves of major wave 3)
If price fail to break pink line, it may make a E wave.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.