Wave Analysis with ichimoku USDCAD
1️⃣ From the point of view of the weekly time frame, the line trend is not clear yet and is still sideways in a fairly stable range.
2️⃣ With the d1 time frame chart, we can analyze a balanced pattern on both x, y axis. According to the Western wave pattern analysis method, this is called the ABCD pattern, in which the sides AB=CD.
However, if we look at it from the perspective of ichimoku, we will call this wave N. But the difference in ichimoku from the western pattern PT is the analysis of the balance of the X axis (time).
After creating balance, the price line is likely to reverse at point D or at the end of wave N.
2️⃣ With the d1 time frame chart, we can analyze a balanced pattern on both x, y axis. According to the Western wave pattern analysis method, this is called the ABCD pattern, in which the sides AB=CD.
However, if we look at it from the perspective of ichimoku, we will call this wave N. But the difference in ichimoku from the western pattern PT is the analysis of the balance of the X axis (time).
After creating balance, the price line is likely to reverse at point D or at the end of wave N.
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