Wednesday, August 12, 2015

Nzdyen Last Sell-off Leg Imminent?

The chart above shows that price is in a correction stage, wave 4 ( a probable zigzag) of an impulse cycle wave which started at 44.099 in 2009 and which is suppose to be the final advance (wave 5), of the larger term super cycle wave or part of it ( if cycle wave 5 will be extended).

Price could dip further but must be contained above 66.907 to confirm that the cycle wave from 44.099 is an impulse wave ( wave 4 must not trade in the territory of wave 1)

The chart above shows the building waves of the probable zigzag correction ( a primary wave degree). The 'C' leg of this primary zigzag (with an extended 3rd impulse wave) is impulse, as expected, and presently congesting (a lower degree intermediate wave 4) in what looks like a triangle formation.

Price is expected to dip further to 77.11 ( 161.8% extension of primary wave A from B) but must be contained above 66.907

The chart above shows the 5-waves of the triangle. A price dip below 80.97 would confirm the end of the congestion.

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