Wave5
USDCHF Impulse CompletionUSDCHF is trading in a downtrend; the price will continue to move in the bearish direction. We are in an impulse move phase 1-2-3-4-5 sequence. Waves 1 and 4 are not overlapped making it a good pattern also the wave 1 and 2 are not equal. The downtrend wont last long but worth looking into.
#vtcusd buy setup #elliottwave wave 5.This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
USDCAD Trading In Wave 5 PhasePrice is trading in a short term downtrend on the 4hour to 1hour timeframe. We are in an impulse phase, in this case we have waves 1,2,3,4 and waiting for wave 5 completion which can offer a last wave sell-off. Its safe to say the dollar will be weak for the next few days.
USD/ZAR Wave 5 Sell-OffUSDZAR has been trading bullish in the long-term or higher timeframe, we are currently trading in a corrective phase as a 1-2-3-4-5 where wave 1-2-3-4 has already occurred and we are waiting for wave 5 completion. Wave 4 is a possible triangle pattern, keep in mind that waves 1 and 4 can not overlap so we can use that idea to use as stop loss or invalidation level. After wave 5 completion, we can expect a short-term corrective pattern in the upside direction before the last drop as a (c) wave.
Mid term projectionBefore this takes off I could see one more drop to form a double bottom around 3580. Once we get that, a likely path to complete wave 5 (by May 2023) is as follows:
(purple path)
4040
3758
4690
4335
5261
My method for projecting this was combining Elliot wave, gann, and proprietary techniques. I am not buying just yet but looking for discount over the coming days/week.