glennmercer
Long

Long AUDNZD: Bullish Bat into Wave-(5)-of-(c)

FX:AUDNZD   Australian Dollar/New Zealand Dollar
10 months ago
AUDNZD             may be completing its fifth wave in the third corrective wave of a larger degree correction. A bullish bat is complete at long term trendline breakout/retest to enter long. SL is placed at 1.13XA which is confluent with the invalidation level, wave-(1) overlap. 50EMA and 50SMA lines may provide additional support around entry. Target is placed at structure highs, although further bullish movement through the completion of wave-(c) is expected if highs are broken.
10 months ago
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