We keep watching the price action as the EURNZD if approaching the support level, it will either bounce or break the support level.. we'll keep looking at other confirmation, including indicators like MA and the Oscillators.
five waves up has completed, now forming wave A, then B, and finally wave C.. then we may look how it will behave, if changing direction or continuing up move.. just count waves and please share your opinion.
On wave analysis, counting the 1..5 and ABC, featuring the fibs ratios, channeling and all the rules and guidelines of the EWA, the opportunities unveils themselves as the market action develops per time.
By wave counting, now the price action is at the completion of the fourth wave, and now will start the fifth wave. As the third wave is long, by the guideline of equality, fifth wave will equal the first wave in length and time.. as we see, ABCXABC pattern has completed in the fourth wave.
Please, share with me anywhere I made a mistake in counting waves, correct...
The price is at supply level, a confluence supply zone from higher timeframe to the lower.. it has reached a trendline pointing downward.. furthermore, it is forming a double top pattern.. and the oscillators indicate that the price is overbought..
Please, share with me your Ideas, views and analysis, so we can learn and capitalize together.. welcome.
