Small Buy Followed By Sell to Complete Wave2(Elliot Waves)
For NZDUSD after last weeks movement. I believe we are currently in Wave 1 of an entirely new Structure. This is because i believe we have completed the TRIANGLE Corrective structure in the Grand Major Time-frame. Therefore i do believe we are bullish for the long term for NZDUSD.
For the Medium term i believe we have complete Wave 1 and are currently in the midst of completing Wave 2. I believe Wave 2 is turning out to be a ZigZag Structure as the first structure down was a 5 wave movement down as a diagonal. To those that do not know, in Elliot Wave's Theory a ZigZag structure occurs in a 5-3-5 Structure. Since the first structure down was in 5 waves down now we shall expect a small retracement in 3 waves before another 5 waves down to complete the Leg B of the ZigZag
For the Short Term, within the ZigZag i believe we have completed its LEG A with the 5 wave down and now we are in the midst of completing the LEG B which should be in a 3 wave format. I believe for LEG B we will be doing a FLAT Corrective Structure. Within the mentioned Flat Structure in LEG B i believe we have completed is Minor Leg A and Minor Leg B. Whats left is Minor Leg C which should unfold in a 5 waves move to the upside possibly even exceeding the entry point of Minor Leg A as indicated by my arrow. The completion of that would mean the completion of LEG B of the ZigZag .
After that we will be looking for Sell Setups for another 5 Waves down to complete LEG C of the ZigZag.
For the Medium term i believe we have complete Wave 1 and are currently in the midst of completing Wave 2. I believe Wave 2 is turning out to be a ZigZag Structure as the first structure down was a 5 wave movement down as a diagonal. To those that do not know, in Elliot Wave's Theory a ZigZag structure occurs in a 5-3-5 Structure. Since the first structure down was in 5 waves down now we shall expect a small retracement in 3 waves before another 5 waves down to complete the Leg B of the ZigZag
For the Short Term, within the ZigZag i believe we have completed its LEG A with the 5 wave down and now we are in the midst of completing the LEG B which should be in a 3 wave format. I believe for LEG B we will be doing a FLAT Corrective Structure. Within the mentioned Flat Structure in LEG B i believe we have completed is Minor Leg A and Minor Leg B. Whats left is Minor Leg C which should unfold in a 5 waves move to the upside possibly even exceeding the entry point of Minor Leg A as indicated by my arrow. The completion of that would mean the completion of LEG B of the ZigZag .
After that we will be looking for Sell Setups for another 5 Waves down to complete LEG C of the ZigZag.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.