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Introduction
Reversal and price movement, supposed in Monthly-0807 was forming in accordance with the forecast. The result is given in Figure C1.
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Figure C1. Final daily chart of August forecast, 2007.
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For illustrative purposes schematic forecast of CHF movement a month ago is given in the chart.
Current variant of wave counting
For survey wave counting of CHF refer to Annual-07(2) and article Let's Analyse Zigzag Wave Construction.
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Figure C2. Wave counting on the weekly chart. Variant 3-alt2.
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According to variant 3-alt2 forming of the downward wave (B) is not completed yet, currently supposed wave X of (B) is forming in the shape of the skewed triangle or another extended horizontal correction that will be specified by the depth of the final wave [e] of X (see tables 3-1 and 3-2 of my book).
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Figure C3. Wave counting on the daily chart. Variant 3-alt2.
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Supposedly at the present moment upward double zigzag [e] of X is forming. By the end of September is may reach 1.25 mark.
At the same time wave [d] of X completion is not confirmed yet, that is why the alternate scenario should be also taken into account (see the next chart).
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Figure C4. Wave counting on the daily chart. Local alternate scenario of variant 3-alt2.
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Within the local alternate variant downward wave [d] of X may keep forming simultaneously with the alternate variants of the other currency pairs.
For more detailed wave counting on smaller time-frames and parameters of possible trading plans refer to daily reports.
Reference
Dmitry Voznuy
forDmitry@yahoo.com
September 2, 2007
When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory.
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