Daily Elliott Waves: NASDAQ, USDCHF, PLATINUM (08.04.22)

8 April 2022 Amega

NASDAQ formed an indecision bar on the daily chart after correcting to 14300. This is consistent with a larger correction in wave (B) as an ABC structure is expected to print. Is wave A of (B) complete though?

The Swiss franc weakened for a fifth consecutive day against the dollar on Thursday, supporting the bullish case. Is this the beginning of wave (3) or a simple correction leg that is part of the wider correction in wave (2)?

The prices of platinum are down for the week but yesterday’s price action provided a reversal formation. Is this because it printed wave 2 of the expected leading diagonal or only a short-term move that will turn lower in wave (C)?

Amega

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