FullTimeTrader
Long

AUDNZD-could start the long term rally soon

FX_IDC:AUDNZD   AUSTRALIAN DOLLAR / NEW ZEALAND DOLLAR
542 6 17
Right now this is one of my favorite pairs because its following the expected price action according my trading system. This is not a ready entry, just an overall analysis warning that the long awaited rally could start soon.

I expected a pullback when the price was strongly rallying:
AUDNZD-ready to make a pullback


And warned about entering long too early for the expected huge long term rally.
AUDNZD-still not ready for the HUGE long term rally


When doing an analysis i try to take the best information a tool can give me, not limiting to only one.
Here i'm using a combination of bollinger bands , ema 55 and ema 200, classical technical analysis and elliott waves .

The most important information here comes from bollinger bands . Looking at W1 chart we see a that BAND TO BAND duplication ocurred before pullback. After that price should retrace at least to the middle MA.
We have also a previous level of S/R and the EMA 55 acting as support.
snapshot



Here on D1 chart:

- EW WXYZ corrective structure
- corrective channel
- bull flag (see below)
- EMA 200 acting as support
- expected harmonic AB=CD pattern
- AO is finishing an ideal bullish divergence

I will watch the PA closely near the area shown on chart and update for possible long setups.

Regards

P.D. nice potential bull flag forming with a BIG potential target

snapshot
BodhiTheory
a year ago
Nice analysis. Only thing I wasn't clear on was the Bollinger "band to band duplication". Can you describe what this means? I haven't heard of this terminology before. Thanks.
Reply
FullTimeTrader BodhiTheory
a year ago
Hello, difficult to explain here, this technique is not well known but used by few pro-traders. There some requirements to meet, i have searched and there's no free information on the web. You can PM me and i will recommend a paid coaching/website if you want more information.
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HamzaLeith
a year ago
Nice...Have a similar take
snapshot
. Good luck
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Yahia.Awes
a year ago
snapshot
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Yahia.Awes Yahia.Awes
a year ago
As soon as this rallies audchf and audusd will follow suit.
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FullTimeTrader Yahia.Awes
a year ago
Hello, im not sure about that correlation because my bias is short with the AUDUSD. This pair is a different story because they are somewhat brothers from the same region. Lets see what happens.
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