Wave pattern of the H4 chart:
In the coming days, the flat mood of the movement will continue. It is necessary to wait for the completion of the entire correctional stage. Sales are risky and can only be justified in intraday trading.
Wave pattern of the H1 chart:
The high potential of the rising wave since September 7 makes it possible to wait for a change in the direction of the entire short-term trend next month.
Wave pattern of the M15 chart:
From November 11, a downward wave zigzag develops in the form of an extended plane. In the wake of the hourly timeframe, it took over the place of correction.
In the coming days, the flat mood of the movement will continue. It is necessary to wait for the completion of the entire correctional stage. Sales are risky and can only be justified in intraday trading.
Resistance zones:
- 1.1490 / 1.1540
Support areas:
- 1.1350 / 1.1300
Explanations of the figures:
A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). For the analysis, the 3 main timeframes are used. The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.
Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave movement.
Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.
The material has been provided by InstaForex Company - www.instaforex.com