dojitrader
Short

Last Let of Potential Ending Diagonal ???

FX:AUDNZD   Australian Dollar / New Zealand Dollar
134 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
maybe now, there are signs of weakening and possible eve and adam double top right at the longterm bearish trendline
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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 (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 :)
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itaskar dojitrader
lets see if it works :)
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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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