Wolfe Waves trading the trend, Aud/Nzd/ 1hr

FX:AUDNZD   Australian Dollar/New Zealand Dollar
Here we have a nearly completed Wolfe wave series. After coming out of the weekend , the Aussie was off to a strong start, but i'm sure a correction is coming around market open. In the mean time , we want the aussie to continue to gain power till Monday market opens, and from there we will be shorting the Aussie/ New Zealand pair.

Our entry is based on a Wolfe wave series, which is a wedge formation where the market touches both the top and the bottom of the wedge twice before rallying in the opposite direction of the wedge . ( for more details about Wolfe waves , go to my faceboook page , hit like and message me with questions). I have my entry place at point 4, or the last touch on the wedge before rallying down with trend. My stop loss is place at previous structure , in most Wolfe wave trades, the stop will be placed at point 0, or the start of the wedge formation. My limit is placed at point 1 in most Wolfe wave trades, because it is the most recently determined low for the current market, and Wolfe waves tells us that the market will likely break out into previous structure lows or highs depending on trend and whether the pattern is bullish or bearish .

For any questions about Wolfe waves , or any other trades, please Message me or reach out to me on my facebook             page. don't forget to leave comments with your opinion , and also like this trade if its something you would trade m or if you would just agree with the content.

And Follow me for more updates on stocks indices and forex trades , and as always good Trading Everyone !
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