NZD/CHFShort
NZDCHF; lower than higher for a long time
My interpretation of Elliot Waves for NZDCHF on a weekly chart.
Around October'23 I lost hope of NZDCHF going lower due to price closing at the 50% fib retracement. In my observation when price closes at a 50% fib retracement - that is the reversal point. I thought Aug'23 was wave 3 and Oct'23 wave 5...I thought I missed the low. But the sideways move for wave gave me hope.
I'm expecting a lower low for NZDCHF to complete wave (5) of (V) or V which is in line at the 1.618 area
Around October'23 I lost hope of NZDCHF going lower due to price closing at the 50% fib retracement. In my observation when price closes at a 50% fib retracement - that is the reversal point. I thought Aug'23 was wave 3 and Oct'23 wave 5...I thought I missed the low. But the sideways move for wave gave me hope.
I'm expecting a lower low for NZDCHF to complete wave (5) of (V) or V which is in line at the 1.618 area
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.