CADCHF TO COMPLETE A DOUBLE ZIGZAG CORRECTIVE PATTERN
Hi Traders,
The CADCHF has just completed a zigzag correction which retested a swing level that lined up with 50.0 Fib ratio and descending trendline.
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The correction which is most likely wave (b) of Y of double zigzag pattern signals the continuation of the downtrend in the wave (c) of Y.
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Considering that traditional technical analysis agrees with Elliot Wave analysis we now have solid evidence to go short on this pair.
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The target for this setup is the support 0.73333 that's between 61.8 and 100% FE of wave (a) of Y.
.
Best of luck on the chart!
Veejahbee.
The CADCHF has just completed a zigzag correction which retested a swing level that lined up with 50.0 Fib ratio and descending trendline.
.
The correction which is most likely wave (b) of Y of double zigzag pattern signals the continuation of the downtrend in the wave (c) of Y.
.
Considering that traditional technical analysis agrees with Elliot Wave analysis we now have solid evidence to go short on this pair.
.
The target for this setup is the support 0.73333 that's between 61.8 and 100% FE of wave (a) of Y.
.
Best of luck on the chart!
Veejahbee.