NZDCHF Elliott Wavehello friends
In the NZDCHF currency pair, we see the formation of a 5-wave pattern with overlapping waves (waves marked in pale blue).
This only happens in triangles.
Therefore, we are faced with a normal triangle or an end triangle that is formed in waves 5 or C.
In both cases, when the price hits the line drawn at the bottom of the triangle (line 0-2), we should witness the change of trend from downward to upward.
The last micro wave which is indicated by small numbers 1-5 has not been completed yet.
Therefore, we expect to witness a relatively strong and large rise with sub-wave 5 and reaching the trend line drawn at the bottom of the triangle.
My theory is that for now, the trend is downward until microwave 5 is formed and reaches the bottom of the triangle, and then the upward trend begins.
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