short AUDNZD; price reverses on daily TF

FX:AUDNZD   Australian Dollar / New Zealand Dollar
43 7 4
there are some reasons for bearish trend and resistance; today price closed below resistance and take profit target is on 38.2.
Same view. Nice analysis. *followed*
Please post more elliot wave analysis ideas so that I can also count. :-)
+1 Reply
farid_ardavani shevectorie
hahaha shevectorie; you dont know, but i hate EW. just sometimes for bigger moves i use them in my analysis; personally i dont trade using EW because :
1) how do I know where do I start my count of waves? (Honestly, its pretty damn hard, for me anyway!)
2) the market is never perfect in its movements and when these waves form, how do I know which wave is what?

farid_ardavani farid_ardavani
sometimes like in this chart, EW give me possible direction; but for entering trade i dont use them
shevectorie farid_ardavani
I enter after a big candle or a tight MVA crossover or a double top :-) Just keep practicing.
farid_ardavani shevectorie
that's a good method..
shevectorie farid_ardavani
It's damn confusing at first but I try to fit the proportions as perfectly as possible.
farid_ardavani shevectorie
hahaha yesss; but i can analysis and trade without them.
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