Forex Elliott Wave USDCHF

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Forex Elliott Wave - Other Examples
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FOREX ELLIOTT WAVE USDCHF TRADING STRATEGIES & TECHNICAL ANALYSIS - EXAMPLE

Forex Elliott Wave USDCHF - Example

Elliott Wave USDCHF Intraday Chart

Thursday, 9 June 2011 at 11:15:00PM AEST

Elliott Wave USDCHF recovery seems to be underway as already noted yesterday, after a small impulsive reaction from 0.8325. We now see three waves from the lows, which however could be just a start of some larger, deeper pull-back that we anticipated in a red wave 4).

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Elliott Wave USDCHF 4 Hour Chart

Thursday, 9 June 2011 at 4:50:00PM AEST – wave 3) searching for a support..it seems to be very near

Elliott Wave USDCHF is trading around the lows, but notice how low the volume was  in recent sell-off, which is definitely something you will notice very often in fifth waves. So, if market is trading in fifth wave here, then we know that bottom will take place in the very near-term. As such, be aware of some larger, deeper corrective pull-back, which we know that occurs after every five waves. Of course, we are talking about a red wave 4) that should reverse some of the Usd/Chf losses of the past few days.

If bottom has not been formed yet, then watch next supports for wave five around at 0.8280 and 0.8250!

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Elliott Wave USDCHF Daily Chart

05 June 2011 – downtrend in progress

Elliott Wave USDCHF moved nicely lower in the past week, towards 0.8300 region as expected!. The primary count shows declines within wave (5), final leg of an impulsive wave III. If we are correct, then losses should find the support, likely in the coming week, somewhere around lower support line of a trading channel.

Well, as you can see on the chart, we already prepared an alternate count, which shows very aggressive bearish outlook for Elliott wave Usd/chf, if support channel line is broken! If we consider dollar index losses from this past week, then ALT count is very possible!

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Elliott Wave USDCHF Weekly Chart

20 March 2011 – huge wave V) underway; more weakness to come

A huge Elliott Wave running triangle on Elliott Wave USDCHF which has finished at 1.1730 region in June 2010, from where a sharp sell-off appeared. Prices also already moved below 2008 low, which confirms that a red wave V) is in progress. Even lower levels are expected, towards the 0.8000 region and even lower, as we anticipate a huge five waves of decline within a red wave V). Wave III of V) is underway.

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