For my previous posts and context see below:
I really like this pair and am looking for the perfect buy set-up. First of all I'm looking for the confirmation of wave V to be in progress by means of a 5 wave pattern lower on the 1 hour time frame.
Then I'll be looking for 3 potential targets for wave 2 or B to end, but once price action shows more data it will be easier to determine which level has the highest probability for a bottom.
However I favor 1.03 zone for now because of several reasons (I mentioned the clearest signs in the chart)
Updates will follow but the reversal is what we don't want to miss.
www.timstuyts.com
www.facebook.com/timstuyts
www.youtube.com/watch?v=HvmWTm4f...
I really like this pair and am looking for the perfect buy set-up. First of all I'm looking for the confirmation of wave V to be in progress by means of a 5 wave pattern lower on the 1 hour time frame.
Then I'll be looking for 3 potential targets for wave 2 or B to end, but once price action shows more data it will be easier to determine which level has the highest probability for a bottom.
However I favor 1.03 zone for now because of several reasons (I mentioned the clearest signs in the chart)
Updates will follow but the reversal is what we don't want to miss.
www.timstuyts.com
www.facebook.com/timstuyts
www.youtube.com/watch?v=HvmWTm4f...
Comment:
Short term buy opportunity after consolidation for wave C of wave 4. Medium term still looking for another leg lower. Longer term a bullish move breaking above 1.14.
Comment:
We are closing in on the projected reversal area. Once price reaches that area I will start looking for a reversal.
Comment:
Since we didn't see a deeper retrace yesterday (confirmation) I use my preferred wave count again with the potential of selling the last leg lower after a consolidation for wave 4 of lesser degree.
Comment:
AUDNZD might be setting up for that wave 5 I was looking for. However we need to be patience because since it is correcting we see minor impulses without any follow up. So be patience and wait for the right signs. I wrote those signs in the 15 min chart.
Comment:
We had to be patient but AUDNZD is doing as we anticipated. I'm personally not in this trade since it happened overnight for me. However those who traded it, well done. I'll be looking for the reversal once this wave 5 is in place. We have been on top of this pair and the reversal is what we don't want to miss.
