Hello traders , NZDUSD in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe.
In the count we had and in our opinion we are dealing with a leading pattern.
This pattern has definitely formed its 1st, 2nd and 3rd waves, and now we doubt the beginning of wave 5 and the end of wave 4.
Wave 4 lasted longer than everyone expected because its structure is complex and relatively normal.
In general, we give the probability of starting the next wave, ie wave 5, and we think that this recent ascent is related to the microwave 1 of wave 5, and its correction is related to wave 2, which again makes it probable that more correction will take place.
Now we are waiting for wave 3, which is confirmed by breaking the trend line and other conditions.
If the end of the previous wave is broken, we will conclude that wave 4 is not over yet.
🙏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 the count we had and in our opinion we are dealing with a leading pattern.
This pattern has definitely formed its 1st, 2nd and 3rd waves, and now we doubt the beginning of wave 5 and the end of wave 4.
Wave 4 lasted longer than everyone expected because its structure is complex and relatively normal.
In general, we give the probability of starting the next wave, ie wave 5, and we think that this recent ascent is related to the microwave 1 of wave 5, and its correction is related to wave 2, which again makes it probable that more correction will take place.
Now we are waiting for wave 3, which is confirmed by breaking the trend line and other conditions.
If the end of the previous wave is broken, we will conclude that wave 4 is not over yet.
🙏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!❤️