Nexium (NXCUSD) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Nexium began a wave one advance on July 16. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on September 26, and the red wave two (blue sub-waves a-b-c) correction ended on October 13. If this wave count is correct, Nexium should be heading next towards the September 26 peak in the red wave three.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, I believe Nexium is currently in the red wave three (blue sub-wave iii).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Nexium will takeout the September 26 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Nexium will drop below the July 16 low".
If you think Nexium is in a range, upvote this post and upvote the comment "Nexium will stay in a trading range between the July 16 low and the September 26 peak until November 18".
You can upvote the comment until 3 PM EST October 19 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
