Elliott Wave Analysis: Triangle On USDCHF Points Higher


On the 4h chart of USDCHF we are looking at a triangle count, which now shows wave E) in progress following that recent three wave rally to 0.9884 that was recognized as wave D). As such new reversal down was wave A, the first leg of a three wave set-back in wave E) which may continue to 0.9630-0.9690 area this week from where market can see a strong bounce. On the other-hand rally above 0.9884 would suggest that wave E is already finished.

Interested in our services ? We have a Special Offer : Get 1 Month Access For 1€!! Grab the opportunity now at www.ew-forecast.com You can even subscribe to our Twitter account -> @ewforecast


usdchf 4











A Triangle is a common 5 wave pattern labeled A-B-C-D-E that moves counter-trend and is corrective in nature. Triangles move within two channel lines drawn from waves A to C, and from waves B to D. A Triangle is either contracting or expanding depending on whether the channel lines are converging or expanding. Triangles are overlapping five wave affairs that subdivide 3-3-3-3-3.

Basic Triangle Pattern:


Previous articleBTCUSD Price Technical Analysis – Bullish Continuation Signal?
Next articleDragon’s Tale – The most Exotic Bitcoin Casino Ever
Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.