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PA-FX
Jan 9, 2017 6:34 PM

Possible AB=CD ongoing! 

Australian Dollar/New Zealand DollarFXCM

Description

Looks like AUDNZD is making an AB=CD pattern. It just broke made a new structure high and is retesting it. If this retest of the new support hold it may go up to the 1.0588 level. If the AB=CD complete at the 161,8 extension you can short it at least to a 0,38 fib correction.

Trade active

Looking good so far here is my entry.

Comment

Still looking bullish and fin for now!

Comment

about 5 pips from profit then it went down :) but still looking good :)

Comments
steveivan
good analysis!
PA-FX
@steveivan, Thank you!
Gar3th
Thanks for sharing, always appreciated!
QQ - assuming price reaches point D, you say you can target a 0.38 retracement, is that the retracement of the whole ABCD move, or just the CD leg of the move?
PA-FX
@Gar3th, You are welcome buddy! :) I mean the CD leg yes :)
Gar3th
@abozahra, cheers, many thanks!
Keep up the good work!
OncleJer
Nice chart, Cypher completion at around your target level as well. Cheers!
OncleJer
PA-FX
@OncleJer, Great with more confluens :) Thanks for sharing!
breezymark
Thanks for sharing, it's appreciated.
PA-FX
@breezymark, Thx for your support :) i hope it helps!
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