UAH/USD update - two scenario
The bullish scenario is still possible, although a rule has been violated for Wave 4, which should not fall below the peak of Wave 1. This sometimes happens - for non-standard reasons. Now this reason is panic due to coronavirus. In the bullish scenario, the failed Wave 5 is most likely to form (when the peak of Wave 5 is below the peak of Wave 3).
The bearish scenario is what we considered impulse waves 1-3, in fact ABC correction. Now we see the development of the 5th wave impulse cycle down.
The bearish scenario is what we considered impulse waves 1-3, in fact ABC correction. Now we see the development of the 5th wave impulse cycle down.
Note
Correct targets for Wave 5 in bullish scenario - 23.76 22.65
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.