AUDNZD-long term zigzag is starting Long

Australian Dollar/New Zealand DollarFXCM

Description

⋅ Sep 28, 2015 9:46 PM

A very long term trade. If this count is correct this pair is forming a big zigzag labeled ABC circled red.
Price currently is finishing wave B circled red unfolded as a triangle.
Ideal targets shown on chart.
One more interesting idea, using trend-based fib time tool it took the same amount of time forming the impulse and the correction.

Best regards.

Comments

nouman

⋅ Oct 5, 2015 4:23 PM

i cannot understand how you took that setup fibolevels are invalid in the sense so its a luck if moves

ChimbOt

⋅ Sep 30, 2015 4:26 PM

Coiling

UnknownUnicorn247026

⋅ Sep 28, 2015 10:16 PM

I totally agree with your analysis ...Thanks for sharing

AkashGaur

⋅ Sep 28, 2015 9:47 PM

got on this trade right at the reversal, a lot more confident since you posted the same tarde
cheers

FullTimeTrader

⋅ Sep 28, 2015 9:58 PM

Well done! lets see what happens. Regards.

sidhgenius

⋅ Oct 5, 2015 3:49 PM

what do you think now coz i just bought it till 1.10

FullTimeTrader

⋅ Oct 5, 2015 3:51 PM

hello, setup already invalid, move.com with other opportunities

ChetanFX

⋅ Oct 5, 2015 4:08 PM

I dont think the setup is invalid. I would prefer to enter long close to 50% retracement..

sidhgenius

⋅ Oct 5, 2015 4:20 PM

atleast its going to asian high

FullTimeTrader

⋅ Oct 5, 2015 4:22 PM

Yes off course i will be looking to buy near the 0.61 fib retracement also. Be carefull today we have rate news, so i decided to close this trade. Im short on GBPAUD.