Hello traders, Symbol NZDUSD , this analysis is prepared in a weekly time frame but has been published for a better view in a 2 week time frame.
In this analysis, we tried to show you a general mentality about the movements of this symbol.
According to the side motion process that has occurred, this wave counter has been prepared in the form of complex waves for wave 4.
Initially, the price of a zigzag that was connected to a flat by X-wave , and it can be said that all or part of our complex waves are over, and now a new trend or X-wave is being formed.
With the price coming out of the blue channel, we came to the conclusion that a bunch of new waves are forming.
We considered two possibilities for this wave:
1- Start of leading waves
2- X-wave formation and continuation of this side process
At the beginning of the work, we examined the probability of wave X. In smaller time frames, we specified an area for the end of wave a, which will be confirmed if the orange trend line is broken, and the price will move upwards, if not broken. We will have the orange trend line from this point.
If the orange trend line is broken and the price moves up to the trend line and the range we have specified for wave a , it will be a very suitable area in terms of harmonic formation for wave b, which is located in the Fibo area of ​​0.618.
If the price returns from this area, wave c will probably move to the end of wave b.
If Fibo 0.618 is broken, this analysis will be fielded.
The plane sign indicates that wave a can move beyond this area.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
In this analysis, we tried to show you a general mentality about the movements of this symbol.
According to the side motion process that has occurred, this wave counter has been prepared in the form of complex waves for wave 4.
Initially, the price of a zigzag that was connected to a flat by X-wave , and it can be said that all or part of our complex waves are over, and now a new trend or X-wave is being formed.
With the price coming out of the blue channel, we came to the conclusion that a bunch of new waves are forming.
We considered two possibilities for this wave:
1- Start of leading waves
2- X-wave formation and continuation of this side process
At the beginning of the work, we examined the probability of wave X. In smaller time frames, we specified an area for the end of wave a, which will be confirmed if the orange trend line is broken, and the price will move upwards, if not broken. We will have the orange trend line from this point.
If the orange trend line is broken and the price moves up to the trend line and the range we have specified for wave a , it will be a very suitable area in terms of harmonic formation for wave b, which is located in the Fibo area of ​​0.618.
If the price returns from this area, wave c will probably move to the end of wave b.
If Fibo 0.618 is broken, this analysis will be fielded.
The plane sign indicates that wave a can move beyond this area.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️