dojitrader
Short

Last Let of Potential Ending Diagonal ???

FX:AUDNZD   Australian Dollar/New Zealand Dollar
131 9 2
The requisite 5th wave over throw would/might be perfectly met
with the resistance zone on the Daily chart
Hoping the candlesticks will light the way for a clear entry trigger
and thus a logical place for stops starting in the 1.0865 area.
Daily chart in the comments
Looks like my Ending Diagonal has turned into more of a
plain' ole ascending channel.
If the Daily wave count is correct it still
might be worth a shot at shorting the Resistance zone
up against the top trend line
for whatever correction may be in the cards.
Maybe next week will yield a reasonable opportunity.
Have some fun this weekend - All !!!
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maybe now, there are signs of weakening and possible eve and adam double top right at the longterm bearish trendline
snapshot
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Like2Move itaskar
In my opinion, short-term price target @1.085.
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dojitrader itaskar
I'm not familiar with the use of Eve and Adam.
Is that something of yours or something you found elsewhere ?
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itaskar dojitrader
It is one of Bulkowski's Patterns http://thepatternsite.com/eadt.html , working well for example here
HAS
(comments). Its a kind of round bottom/top. Iam not sure here, both of these ccys are strong, if I decide to go short here, it will be after the neckline break and rebound.
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dojitrader itaskar
Thanks for the info. I keep threatening to explore his work
but have not quite gotten around to really doing it well.
Another reason I should spend the time
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itaskar dojitrader
you're welcome :)
Reply
itaskar dojitrader
lets see if it works :)
snapshot
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