Wave-Trader
Long

AUDNZD Watch for strong breakout

FX:AUDNZD   Australian Dollar / New Zealand Dollar
3493 6 84
Hi fellows, we are tracking this bullish wave from bottom channel line after trend reversal channel breakout. Currently price is forming corrective daily flag. We were expecting this corrective flag before its formation. This corrective flag almost has completed and i am expecting strong breakout to the upside. In case strong breakup do not come then look for early buy at bottom flag line if price touch that line again. Follow me on lower time frame for timed entry.
Comment: If trend continuation pattern appears then look for sell and once price hit bottom then look for buy here is the update.
Comment:
Comment: This pair is moving amazingly. Here is the next update if you want short term sell you can have that sell with in the pattern.
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Comment: Here we got the update fellows. this pair is on its way.
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In the daily charts it defiantly looks like a long on break of your resistance. What do you think about how its shaping up in shorter time frames? its starting to look like a temporary short before your long view?

+1 Reply
@Wave-Trader
hi, please see there is a breakout from the line towards the upside.
+1 Reply
do we need to wait for pull back for entry ?
+1 Reply
I agree.
Reply
Yes, very well said. The Daily Stochastic RSI is 27.55 and is sloping upwards. Aroon Down is 92 and is inching down( meaning that downtrend is exhausted). Aroon is at 20 and inching down. Once it hits 0 and starts sloping up, then a strong up movement gets reinforced. The daily candles have already broken the down trendline and inching up....All in all an upwards bias is indicated in the days to come.
Reply
@sundark, You are really an expert mate Good Luck.
Reply
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