USDCHF: Wave 5 Possibly In Progress

USDCHF is in a deep pullback since December of 2015 when pair found a high at 1.0327 which we think it's a temporary top since we see current big decline as corrective wave IV. Ideally this wave IV belongs to a big ending diagonal pattern that could resume up from an important trendline connected since start of May of 2015. We are waiting on impulsive bounce back above 0.97886 swing which would be an important evidence that wave IV is completed and that price is headed to higher levels.

USDCHF, 4H

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USDCHF, Daily

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William Volz 8 years ago Member's comment

This explanation assumes readers know what the heck "impulse bounce above 0.97886" means, what it leads to directionally, time wise, etc. - in other words the explanation is USELESS. This is like telling someone about the wiring in an electro magnetic thing-a-jig, but not how it works, or what it does.

In the future, get charts from a source that knows how to talk to ordinary people

Ayelet Wolf 8 years ago Member's comment

This article isn't geared towards the novice investor and for those with more background, the post was quite helpful. However, if you don't understand something, both the authors and users here seem to be very helpful and friendly. I'm sure if you asked nicely, many would offer to explain it to you. By contrast, insulting people and calling their work useless probably won't get you much of a response.