traderWgun

Correction over? Establishing a new bear trend? EWave analysis

Short
FX:AUDNZD   Australian Dollar / New Zealand Dollar
My previous idea suggested we were making an inverted head and shoulders:
We got a strong break to the upside but the stalled just above the 1.10 figure.
This pair is now on the verge of completing a five waves decline, so we should
see more downside as the 1.1033 high remain intact.

This count suggest that we have completed a zigzag, where wave B was a triangle.

I will look to sell three legged corrections below 1.10334.
A break below 1.064 would give reason to believe that a new bearish impulse
is under way.

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Good luck!

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