wstipp18

AUDNZD Elliott Forecast & Flag Breakout Trade

Short
OANDA:AUDNZD   Australian Dollar / New Zealand Dollar
At the moment, in the big picture we are forming an ABC zigzag correction pattern which will take us into the 1.07408 area in which price will continue upwards. For now we can short down to this level by taking flag breakouts in favor of the downside. We have just closed below an ascending triangle on the lower timeframes and this has lead me to go short taking conservative targets @1.08240.
I may, however, trail stops with structure if the AUD interest rate decision causes more bears to step in.
Trade closed: target reached: Very easy trade! $$$