Chartistry

$NZDCAD | Bearish GEO & Wolfe Wave | Targets Defined

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
4 months ago
Hello Traders,

$NZDCAD is currently in a strong uptrend with no plans of reversing any time soon. However, looking at the overall structure, we can clearly see a Bearish Geo             formation. To define points 5, 5', and 5" I always look for the completion of an AB=CD pattern . This is usually a good indicator or where price will reverse in the GEO'.

The lines in red define the highest probability targets. The darker the color, the higher the probability. The targets defined will also act as a level of reversal for price. The lighter colors indicate the strength of the reversal. The lightest color then, has the highest chance of reversal. Making sense?

The forecast, for now, is bullish .

Stay tuned,
Chartistry

2 months ago
Comment: Update:

Internal Wolfe Wave formed. Although original targets remain in force, do not ignore the development of an internal Wolfe Wave

snapshot
a month ago
Comment: Yesterday the first target was.
a month ago
Comment: hit.
Raja8934
a month ago
nice man so is it valid to say the downtrend maybe in january will drop like wave 3-4
Reply
Chartistry PRO Raja8934
a month ago
@Raja8934, Thank you.

Based on the model I use to calculate the targets and overall strength of the trend, it looks like NZDCAD is not done pushing the boundaries of its upper limits. The Medium and Light Red targets are still in play. Time is the one thing I have yet to understand in the markets so I can't accurately tell when the market will switch gears long in advance. Does this help answer your question?
Reply
Raja8934 Chartistry
a month ago
@Chartistry, of course bro thanks
Reply
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