FX:GBPNZD   British Pound/New Zealand Dollar
11 0 0
when I started analyzing the for this pair, I started counting moving upwards not downwards as I started with a bc             bc             bc             which all has Fibonacci expansion of 161.8 (for the bar chart).

I then recognized a change in the nature of the movement, the next low did not show a 161.8 expansion therefore I thought of changing my numbering and treat it as a start of a different structured movement. therefore I assumed that I got an abc complete movement, another abc abc XXX movement which the last movement is my confusion point, as I have two different scenarios for it:

1.i assumed the last downward movement as an a of another a of another abc pattern to complete abc abc abc. (blue counting)

2. or according to the (black movement) our last abc

from what I see, I will need to analyze a small time firm which most probably will be the weekly to check out a more detailed structure which can help me.

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moesalama
gbpnzd
moesalama PRO about GBPNZD 2 2 years ago
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