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fxmillions
Dec 27, 2015 11:43 PM

NZDUSD possible ending diagonal of the corrective C wave Short

New Zealand Dollar/U.S. DollarFXCM

Description

Corrective ABC structure seems to be complete. Which in my counting is the IV higher degree corrective wave of a large down trend. Only problem is the final C wave is below the initial A wave of the overall completion. Any thoughts ?

Comment

I recently learned that this labeling is wrong. The waves of the lesser degree should have been labelled as a "double three" or possible "triple three" That would make the impulsive waves within the corrective structure, consistent in direction. I have labeled corrective waves of lesser degrees with A and C which is wrong.
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