NZD/CHF Daily

31 Agu 2018

It is at the first fork. Small ending diagonal 1hr. But there are 2 ways I can label this 5 wave, this is one where we would get an ending diagonal, or shortening of impulses as a wave 5 so keep that in mind. There are a lot of levels for price to hit so I would recommend being careful and patient for an attempt at a large up move, we are in a strong downtrend and impulse waves are fractal, but I expect at least a correction to be coming from this strong fib area. If it gives us a larger ending pattern, which would take some time (see NZD/USD buy I posted from the low) that would be the type of setup I would look for exact entry and 50-62% retrace of 5 wave down. It can come up some from right here but, be careful. See Weekly chart I posted