URIFX

USDCHF: Elliott Wave Count

FX:USDCHF   U.S. Dollar/Swiss Franc
EW
183 2 2
ew
My Notes:

We are in the end of a corrective wave (may be wave 2) of the main bull wave.

Why:
1/ This is not a impulse wave, because there is a overlap of wave 4 and wave 1 (pink line).
2/ The ABC             also in form of 5-3-5 waves
3/ The bottom of the retractment of main bull trend (major wave 1) @61.8% fibo level.

Next, I am looking at the development of current wave: This is an impulse wave which had developed wave 1,2,3,4. If price breaks the pink line, this is a wave 5 (this is the 5 waves of major wave 3)

If price fail to break pink line, it may make a E wave.
Wave 3 bigger than wave 5?
Reply
URIFX RamaDeda
hi RamaDeda,
I don't understand what is your concern?
Reply
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