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Thursday, August 08, 2013 2:31:23 PM
USD/CHF Hourly Goodman Wave Count
More or less, we've completed a very nice Goodman matrix formation here. Opposing characteristics with a thin leg followed by a fat leg. There's a slight gap of 40 pips where the first bounce after the thin leg didn't quite hit the 50% fib retrace. We've fallen an extra 16 pips or so past the length of the first leg so a bit more downside is still possible. But overall, the matrix completion will still yield a move back up to 0.94 and 0.9470 with the 0.9470 mark more likely.
More or less, we've completed a very nice Goodman matrix formation here. Opposing characteristics with a thin leg followed by a fat leg. There's a slight gap of 40 pips where the first bounce after the thin leg didn't quite hit the 50% fib retrace. We've fallen an extra 16 pips or so past the length of the first leg so a bit more downside is still possible. But overall, the matrix completion will still yield a move back up to 0.94 and 0.9470 with the 0.9470 mark more likely.
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