Translate

Showing posts with label Elliott wave analysis of USD/ZAR - Wave ii top nearby?. Show all posts
Showing posts with label Elliott wave analysis of USD/ZAR - Wave ii top nearby?. Show all posts

Tuesday, December 3, 2013

Elliott wave analysis of USD/ZAR - Wave ii top nearby?



USD/ZAR

I still think, that a huge triangle is Building and that we have seen wave D end at 10.5079 and we have seen a impulsive decline from 10.5079 Down to 9.54 as wave a and we saw wave b end at 10.4588 and have begun a new impulsive decline in wave c.
Looking at wave c we have seen wave i Down to 10.0220 and is currently about to end wave ii near 10.2916 for a powerful decline towards 9.5888 and maybe even lower.

A break above 10.4588 will invalidate this Count and indicate, that wave D might not be in place yet. Only a break above 11.8555 (above wave B) will invalidate the triangle scenario and be very bullish.