FX:AUDNZD   Australian Dollar/New Zealand Dollar
297 1 8
I still think we need at least one more leg down to complete the correction of the last bullish impulse.
Therefore I'm looking for a bearish break for wave C lower. I will be looking for a consolidation on lower time frames and sell the continuation once we see that happen.

As long as we don't see a bearish impulse followed by a consolidation (15 min tf for example) price can easily extend higher.

Once wave 2 is in place we will be able to buy AUDNZD             long term with an incredible risk reward.
Updates will follow.
Comment:
snapshot

Nothing changed yet, for a sell watch for a minor bearish impulse followed by a consolidation. That minor bearish impulse might be in progress at the moment.
Comment:
snapshot

AUDNZD is in a consolidation before we will see that major bullish move.
snapshot

Short term I think we will see at least another leg lower on the smaller time frames. IF that results in a nice pronounced correction like the indication of trend lines show I will be looking for a buy set-up and see whether the correction is over or that we need another leg lower before the main bullish trend takes over again.
Thanks for sharing Tim....Can you please update this chart ?
+2 Reply
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