TradeWaves-EWA

๐ŸซThe Swiss franc continues its global growth against the dollar

FX:USDCHF   U.S. Dollar / Swiss Franc
โ—โ— Mine scenario
๐Ÿ• 1M
FX_IDC:USDCHF
Most likely, the sideways correction is unfolding by wave (b) in the form of a contracting triangle, followed by a downward exit in a five-wave structure (c). The wave count allows you to keep the ratio I> III> V on a logarithmic scale.

๐Ÿ• 1W
FX:USDCHF

๐Ÿ• 2D
FX:USDCHF
Pic. 3

Pic. 4

In the daily timeframe , there are two co-directional count options: with a single (pic.3) and a double zigzag (pic.4) in the wave b of (b). The first of which allows us to consider the transformation of one of the subsequent subwaves c, d or e to a multiple zigzag or triangle.

๐Ÿ• 4h
FX:USDCHF
Wave 3 of (3) is likely to be extending. Next, a series of corrections is expected in the fourth waves, at the end of which, under certain conditions, a long position can be set.

โ—โ— Alternative scenario
๐Ÿ• 1W

FX:USDCHF
The alternative count of the higher wave degree still has the probability of transforming "Supercycle" (b) to a double zigzag w-x-y.


The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.

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Comments

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+1 Reply
TradeWaves-EWA GenerationForex
@GenerationForex, ะบะพะปะปะตะณะฐ, ัะฟะฐัะธะฑะพ ะทะฐ ะพั‚ะทั‹ะฒ!!!
Reply
Hi:

May I ask whether the nice-looking graph was drawn by automatic Elliot Wave indicator on Tradingview or done manually? Many thanks!
Reply
@ynchart, Hey!

This is all done manually, without the use of any indicators.
Reply
ynchart TradeWaves-EWA
@TradeWaves-EWA, Thanks for your fast reply. Do you know any indicator on TV can do an auto count of waves?
Reply
@ynchart, Not. There is no such indicator on TV. And I'll tell you a secret that any indicator will make hundreds of times more mistakes than experienced Elliott Wave analysts.
Reply
ynchart TradeWaves-EWA
@TradeWaves-EWA, haha. I am sure you are right
Reply