anilmangal
Long

AUDNZD THE POWER OF UNDERSTANDING WAVE STRUCTURE

FX:AUDNZD   Australian Dollar/New Zealand Dollar
795 6 92
Please check the previous post on this pair. We now have 3 wave corrective structure , remember that corrective structure can be complex so a 3 wave does not means the end of the correction. I will follow up on this pair with trade setup on lower time frame .
I am long, short term and long term on this pair .
Expecting weekly impulse to up side !

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the low of wave 1 is higher than the low of wave 2?
+1 Reply
no it's not
+2 Reply
pippo anilmangal
my mistake, sorry
+1 Reply
In this case I expect a nice chance to sell from upper trend line. It looks like we have a declining channel on 4h.
Reply
Nice chart...
Reply
Where you have the wave 5, is at the high of the MACD, (which I find is always where the wave 3 is) then the MACD goes down to cross the zero line (which is always what wave 4 does) and then if the price goes up, which it seems to be doing, then the price will make a new high while the MACD makes a low, (which is what happens with wave 5) and this then creates the negative divergence which comes before the larger wave 2 down.
I’m not saying I’m right as I trust your judgement completely but would love to get your comments regarding the MACD in this instance?
Either way though, I agree, this is a massive BUY over the long term!
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