Dash slowed down into a correction

Gregor Horvat Wavetraders

DSHUSD turned up in the last two months with an impulsive fashion away from 30.00 area, which means that the ending diagonal within wave 5 of (C) on a daily chart can be completed and the bottom is already in place. We can actually see strong and extended move higher, which is an indication for a five-wave bullish impulse from the lows.

Looking at the 4-hour chart, we can now see it now slowing down within wave (4) correction, where first support is already here around 66 - 62 area, while second deeper support would be in the 60 - 55 zone. Bullish confirmation for wave (5) would be above channel resistance line and 75 region.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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