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ProficientForex
Jan 19, 2021 8:32 AM

CADCHF: Triangle pattern 

Canadian Dollar/Swiss FrancFXCM

Description

The Darkest hour is that before the down, the great hope and light which always draws you towards itself. In Elliott wave analysis, these sparkling lights are the patterns, and when we encounter a pattern, we can build the whole path. What we have learned in Elliott's rules is the importance of the patterns, the most valued of these patterns are Diagonal and Triangle, which we can determine the direction of the movement according to their position.
In the case of this currency, a Triangular pattern is being formed and we know that this pattern can be formed in wave B or 4. For this reason, and considering the history of the chart, we can consider this wave as the 4th wave, which will start the uptrend in wave 5 after the downtrend.
Comments
Dave-FX-Hunter
Your analysis is great, thank you
TheSignalyst
Amazing analysis here. I mean it. Keep it up
ProficientForex
@TheSignalyst,thank you
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