Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader


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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Simplified Wave Analysis. Review of USD / CHF pair for the week of October 30

October 31, 2018 Analytics


Wave pattern of the H4 chart:

The last completed wave construction of H4 timeframe took the place of correction in the upward wave of the daily scale.

Wave pattern of the H1 chart:

The bullish wave of September 21 will eventually move to a larger scale of movement. Given the place of the wave (C) in the model D1, the rise will mainly be a pulse.


Wave pattern of the M15 chart:

The last wave structure of this scale dates back to October 15. Before the price breaks up, the side flat is not excluded.


Recommended trading strategy:

In the coming week, the most sensible choice would be to find entry points to long positions. Estimated potential for an increase (about 3 figures) may attract trade advocates on a large scale.

Resistance zones:

– 1.0250 / 1.0300

– 1.0010 / 1.0060

Support areas:

– 0.9920 / 0.9870

Explanations to the figures:

The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For the analysis, three main TFs are used. On every last part, the incomplete wave is analyzed. Zones show calculated areas with the highest probability of reversal.

The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure while the dotted shows the expected movement.

Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!

The material has been provided by InstaForex Company – www.instaforex.com


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