traderWgun
Short

First leg in a big correction

FX:GBPNZD   British Pound/New Zealand Dollar
179 2 0
This pair is correction the drop from 3.7. It safe to say that it will correct much higher later on.
But for now it looks like the market is in the process of completing a zigzag.
Because wave A is a 3 wave advance in a zigzag formation, that means that this correction should
take a flat formation. The min. target for a wave B in a flat is 70 retrace of wave A.

This could also be a triangle, but it more likley a flat due to the time it took to complete this 3 wave advance.

We may have made a top in the pair,
but if not, then we shall see an top very soon.

Double divergence; between wave A and C and wave 3 and 5 within wave C.
Wave 5 of C was an ending diagonal. Look below for more charts.
traderWgun
2 years ago
1H wave count
snapshot
Reply
traderWgun
2 years ago
snapshot
looks like wave 4 triangle.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out