The correction started as anticipated and in the beginning of next week we should focus on whether we are able to break lower once more. IF we see a consolidation we can sell AUDNZD again.
But don't forget guy's we want the buy because this pair is heading for 1.15 and 1.18 as conservative targets.
Updates will follow
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We saw the first impulse for what might be the start of another bullish impulse for a move towards 1.15 and 1.18.
I will be waiting for the consolidation to end before buying again.
I personally like the 50-61.8 fib on 15 min time frame see tested first before seeing the continuation.
Keep in mind that as long as we don't see the continuation this pair might break below 1.057 again.
We saw a potential reversal pattern get invalidated which is good for our buy's. Keep watching for minor consolidation. A break above 1.0772 will open the gates towards 1.15 and 1.18. That's my goal with these 2 positions so you can do the math risk/reward wise. Don't get too excited but keep the bigger picture always in mind. Updates will follow.
I'll create a new post next time for the possible continuation because it seems that we saw a first impulse higher which means that we are now correcting in a wave 2. Keep in mind the bigger picture, we want to see 1.15-1.18. But let's wait for confirmations and let's not get too biased;-)
I think the probability are high enought now to enter the market
-the RBA rate meeting is behind us
-beautiful hammer yesterday on the daily timeframe
-breakout on the 60 min timeframe
My SL is below what I think as being a wave 2 low (1.0435).
But for the target, I don't know. I'm aiming for the 1.618 fib extension around 1.1050. But I wouldn't mind having your advice on that one.