Possible Elliot Triple Combo formation occurance on USD/DKK
As you can see in the 1 hr timeframe, you'll see a downward trend emerging in a WXYXZ pattern with the Z hopefully play part in the formation.
Also drawn on the chart was a green support zone which indicates the market moving to the uptrend as the previous candles are touching this support line approximately 4-5 times.
This gives me enough indication that the market will hit to the upward and rally on until it hits the Z formation of the pattern and begins to downtrend to continue on the pattern merged previously.
SL and Take Profits are all listed.
Also drawn on the chart was a green support zone which indicates the market moving to the uptrend as the previous candles are touching this support line approximately 4-5 times.
This gives me enough indication that the market will hit to the upward and rally on until it hits the Z formation of the pattern and begins to downtrend to continue on the pattern merged previously.
SL and Take Profits are all listed.
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.