NZDUSD - Forex Majors | Elliott Wave Patterns | November 2019
NZD/USD - Elliott Wave Technical Analysis
Structure & Degree: 3-swings Sequence in a Primary Degree Y (pink)
- Intermediate (A) (blue) - Sharp Zig-Zag
- Intermediate (B) (blue) - Complex Expanding Flat in Minors WXY (turquoise)
- Intermediate (C) (blue) - Bullish Impulse
Minor 1 (green): 5-swing sequence, decomposed as a 5-3-5-3-5 in Minutes i ii iii iv v (green)
Minor 2 (green): Complex Double Three in Minutes wxy (purple)
Current Position & Pattern:
- Minute y (purple), bearish 3-swings or 5-swings sequence
Expected Swing:
- Minor 3 (green) accumulation cylinder: 3 of 3's Impulse, Bullish Sequence
Technicals & Confirmations:
- 61.8 or 71.6% Fibonacci Retracements of Minor 1 (green)
- 161.8% or 200% Fibonacci Extensions of Minutes w & x (purple)
- Bullish Divergence at the Fibs
- Ascending Channel, lower trend-line support
- Bullish Harmonic Structure
Structure & Degree: 3-swings Sequence in a Primary Degree Y (pink)
- Intermediate (A) (blue) - Sharp Zig-Zag
- Intermediate (B) (blue) - Complex Expanding Flat in Minors WXY (turquoise)
- Intermediate (C) (blue) - Bullish Impulse
Minor 1 (green): 5-swing sequence, decomposed as a 5-3-5-3-5 in Minutes i ii iii iv v (green)
Minor 2 (green): Complex Double Three in Minutes wxy (purple)
Current Position & Pattern:
- Minute y (purple), bearish 3-swings or 5-swings sequence
Expected Swing:
- Minor 3 (green) accumulation cylinder: 3 of 3's Impulse, Bullish Sequence
Technicals & Confirmations:
- 61.8 or 71.6% Fibonacci Retracements of Minor 1 (green)
- 161.8% or 200% Fibonacci Extensions of Minutes w & x (purple)
- Bullish Divergence at the Fibs
- Ascending Channel, lower trend-line support
- Bullish Harmonic Structure
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.