FX:AUDNZD   Australian Dollar / New Zealand Dollar
319 10 13
1. Lower Low Major Trend Reversal Setup (LL MTR             )
2. Trend line was broken
3. There was the initial minor rally.(DBOL)
4. Price dropped from there, and did the first selloff that normally seeks to retest the sell climax (SX). There was overshoot in the test, thereby producing a LL MTR             . (A Low that sought after parity. ( I remember holding this trade for 4days , targeting parity, which ended up as one of my single biggest wins)
5. Price has rallied from parity since, and got turned down from the DBOL zone.

This comes up as an Inverted Head n Shoulder Pattern(See my other post, 1month ago, on the HnS that was)

1.05000-1.06500 is a strong KEY ZONE, and my expectation is to see price bounce up from here


1.0900-1.0980 zone
1.1200-1.1300 zone

Should these levels be turned floors, I think the ultimate Measured Move Target of 1.24450-1.2650 would be reached.


I’m sitting on my hands, waiting for a low risk signal that would offer a tight stop for a huge win. Otherwise, the last last low could pass for my conservative swing trade StopLoss


Building Stable Wealth With Patience.

NB: I would soon make my PAMM link available for investments.
The PAMM is currently doing 107%, Since its inception in March 2015

Good Luck!
Comment: Trade Could Be Rearing It's Pretty Head In Form Of Final Flag Occurring Right On Support
Final Flag...????
@IvanLabrie : I'm still struggling with making trading sense from the fundamentals, and correlations, so I still continue to look at each price chart on its on merits. I need to graduate from this state ;)
Daily view
IvanLabrie moorekapital
Agreed, it's time for AUD to regain some ground vs NZD.
Copper is coiling for a large move up (diamond bottom formation, now a bull flag in the daily).
There's a weekly time at mode downtrend that has exceeded the target and a high spin doji weekly close at support.
+1 Reply
IvanLabrie IvanLabrie

Pretty strong case...nice fib time too, and 0.618 retracement of first directional leg as extra food for thought.
+1 Reply
moorekapital IvanLabrie
Correct link to Cu chart
moorekapital moorekapital
Copper Is In Trading range. The only sure thing is: " Anything is possible"
moorekapital IvanLabrie
Considering the prevailing trend of Cu, I hold a bearish view for copper.
IvanLabrie moorekapital
Yes, maybe. It has some room to rally but gold and live cattle and milk look stronger than it, so the continued pressure on AUDNZD might go on.
I'd be tempted to short the short term rally target if we get a time at mode signal. If not there's significant resistance at 1.085-89.
Keep in mind that fundamentals would aim for parity in this instrument, or even lower. Just an interesting sidenote, since both economies are rather similar, with fundamentals favoring NZD over AUD right now.
Signal for long not yet in
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