anilmangal

AUDNZD waiting for corrective structure.

FX:AUDNZD   Australian Dollar/New Zealand Dollar
2124 22 96
IF the analysis i did is correct we have a 5 wave up and i am looking for a 3 or 5 wave corrective structure .
Short term sell in the corrective structure is possible if I see a lower degree correction in C wave.
Let's see what it does .

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pippo
2 years ago
this is perfect
+1 Reply
pippo
2 years ago
all can see the trend line placed
+1 Reply
IvanLabrie PRO
2 years ago
People want to short it.
I don't want to go long here, but it looks bullish still.
As you say, pending correction.
Reply
anilmangal TOP IvanLabrie
2 years ago
Selling for a short term is possible, but I like to wait for proof it is going up or down before I take a trade. So a bear flag on 60 could be a reason to sell . I am still looking for position traders up if this proves to be a corrective structure.
+5 Reply
HEmmanuel PRO
2 years ago
I am bullish on this pair. NZD CPI was poor last week, dairy prices also plunged. RBNZ interest rate decision is on Wednesday and there is a fair bit chance that they will cut further or at least be very dovish. I see a hammer on the 4 hour chart so I am guessing a lot of traders will be pre positioning themselves in to the rate decision. I have an existing long position already 100 + pip up and will be opening another long position once I see further confirmation.
+1 Reply
MohammedSolaiman
2 years ago
I learned one thing at least from this chart . really thank you
Reply
farid_ardavani
2 years ago
this is my view on weekly time frame; i think we must wait this week for some clues and see how price acts at these levels
snapshot
+2 Reply
FullTimeTrader farid_ardavani
2 years ago
Nice, i have the same view
+1 Reply
HamzaLeith
2 years ago
Thank you for this idea Anil, here is an 11 months old idea supporting the drop
AUDNZD SHORT SETUP
+2 Reply
NidalDarawsheh HamzaLeith
2 years ago
not sure how this supports the drop or even supports any thing, ST hit before TP all your lines failed with flying colours!! (that does not mean I am a bull)...just wondering
Reply
HamzaLeith NidalDarawsheh
2 years ago
These median lines act as support/resistance lines, The orange one was just a small one signaling a correction, Although broken, notice how price tests its different parallels. Currently price is sitting below its upper parallel. The median line I(red line) of any pitchfork gets tested many times. I am not saying this slope dictates the price movement but it is does support the corrective drop and a retest of the median line is highly probable. Hope that makes sense? I am expecting that this pair still has one push upwards.
AUDNZD correction is not over yet!!
Reply
xtrade2015 PRO
2 years ago
i am ready to set up short on this pair
Reply
xtrade2015 PRO
2 years ago
AUDNZD short
Reply
AnamJabin
2 years ago
sir what you think now ? we should buy or not ?
Reply
AndyM PRO
2 years ago
I still think we had a flat and a C wave up. Now we are likely to continue down. The correction was very confusing, very deep, but the upward momentum was very strong as well.
Reply
IvanLabrie PRO AndyM
2 years ago
I'm not sure about the longer term count yet, but I think the move down from the top isn't an impulse.
Reply
anilmangal TOP AndyM
2 years ago
Please post the chart so i can see which moves you re talking about.


+1 Reply
AndyM PRO anilmangal
2 years ago
AUDNZD reversed as planned, going down
Reply
Xaff
2 years ago
Anil, another good move seen! Mr. Elliot would be proud of you hahah

Congrats again!
Reply
anilmangal TOP Xaff
2 years ago
Thank you Xaff, if you want to learn the MAGIC you should take my course , SKYPE me for more info ;mangal457.
+3 Reply
prakki79 anilmangal
2 years ago
Sir, I too want to learn from your course. What I need to do next?
Reply
anilmangal TOP prakki79
2 years ago
skype me
+2 Reply
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