Wave-Trader
Long

AUDNZD Expecting Impulsive wave

FX:AUDNZD   Australian Dollar/New Zealand Dollar
Descending channel forming against the impulse. I am expecting solid breakout of short term bearish corrective wave. Remember once it will appear its gonna move pretty fast so keep watching on lower time frame for early pick of this impulsive wave.
Comment: Up trend broken. We have reversal channel formation buy if price come down and retest uptrend broken area here id the update.

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Comment: channel broken down but i think we dont have enough room for the price to go down further this level.

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Comment: Bouncing from bottom.
Comment: Reversal channel forming on bottom Watching for btreakout
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Comment: Watch this formation.
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Comment: Broken out amazingly. Here is next possible structure and we may have sell setup on price action.
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Comment: Watching for sell on price action remember guys breakup is possible.
Comment: Here we got guys. Price playing under trend reversal channel line break up is possible as we can see very strong impulse. If price hold the top then i will look for short here is the update.

AUDNZD watching price action for short. (break up possible)
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Comment:
AUDNZD Watch for strong breakout
Comment: This pair is doing well. Here is the update.
AUDNZD Buy on lows
Comment:
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AUDNZD buy at bottom



AUDNZD buy at bottom


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I used this trend line for my entry, so this is where i went wrong , and already opened a long trade !! Thanks a lot for your idea, i just place stop loss below the new trend line !!
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Reply
Wave-Trader TOP Wave-Expert
LIne are just tolls mate you need to understand the patterns. These yellow lines only tell us about what pattern is there . If price touches any certain line it does not mean get in straight away in the market.There are other indications which must be filled for entry mate. I hope this will help alot.
+3 Reply
Wave-Expert PRO Wave-Trader
:) Yep you are absolutely right !
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Koryphaeen PRO Wave-Expert
I would be careful using these "trendlines" in my trading, especially in determining SL or TP, especially because that (the yellow line in your chart) is not a trend line...
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Awesome. Thanks for sharing your idea.
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you are most welcome sir
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Nice
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Hello! What makes you think that it will move fast? Maybe it will consolidate for a week. Thanks
+1 Reply
Lets wait for that mate either it is going to make consolidation or moving fast. My experience says to me mate.
+2 Reply
Are you looking for certain reversal candle stick patterns to tell you the down move is finished?
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this can go more down. on bigger time frame double bottom than up
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1.07 still a valid target zone? thanks bro
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yes but this is longer term trade setup
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Already have a retest. Let us see how this will turn out
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