shevectorie
Short

The Making of a Conservative Corrective Wave B

FX:AUDNZD   Australian Dollar/New Zealand Dollar
81 1 2
Bulls searching for support which they are likely to find at:
wave 4 of the smaller EW
and a previous wave 3 of the bigger EW

Big red candles are in place and price escaped out of the trendline & 20 period MVA once more. In my opinion, good to short. If this loses, at least I followed my trading entry rules which is important.

To beginners: I guarantee nothing. This is a countertrend move BTW.
Your have labeled a 3 wave corrective structure as a wave 5?
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