Daily impulse from bottom opens the path for higher prices

1 ott 2021

#NZDCHF Price made a daily impulse in 5 waves overtaking 2 corrective highs, supported by a bullish and impulsive sequence of AO blocks. This is likely to attract bulls to come in as the following correction draws to an end. The Modified Schiff Pitchfork lays out a channel pointing to a larger untapped supply zone created by 2015 highs. If this will be a 3 or 5 waves move on a larger degree is too early to tell but the larger FX swings tend to come in waves of 3 as price oscillates between the highs and lows.

1 ott 2021

Nota

I expect one more low here

1 ott 2021

Nota

Also possible we will get a triangle here as last push to a new low, with a tiny margin, was made in 3 waves. So shouldn't qualify as wave (v)

13 ott 2021

Nota

The pair is still moving in a down sloping corrective 4h channel, currently trying to break up. If that break fails we will probably see yet one more bearish wave (as of the red Alt# count) before it's ready to break higher. I'm convinced that sooner or later this break will come though, unless new and game changing risk off information comes into the price.

25 ott 2021

Nota

Pair still looks very bullish but it's too early to say what kind of structure we will get on higher time frames, if it will be 3 or 5 waves for A, a 1-2, 1-2 extended structure etc. As the latest high is made with qualified divergence (QD) it leans currently to either 3 waves or a 1-2,1-2 structure, but the AO block is still open (unconfirmed) so a lot can still happen. Undoubtedly though, we have a higher low and a higher high in this sub structure pointing towards more gains.

27 ott 2021

Nota

Possible triangle here in blue wave iv of 1, but we need to be cautious as 1 may turn out to be wave c in a smaller abc pattern. Too early to tell. No trade yet and while I may be tempted to take a small size at wave (e) out of the triangle, we have to be aware that it would be the last wave in the sequence. So, I'm more interesting in taking a trade from wave 2 in case I deem it to not be a b or x wave, which is harder to measure the end of.