EWStructures
Long

EUR/NZD - Kiwi weakness around the corner

FX:EURNZD   Euro / New Zealand Dollar
76 4 1
EUR/NZD is near the end of a C-wave             of a larger B-wave so I expect one stab lower before this C-wave             is complete. Also note NZD/USD             and AUD/NZD             are at or near potential turning points.
At what rate do you think would be a good rate to start the long?
Reply
Take a 4hr chart, you will notice that we're in something which looks like a triangle in progress (wave 4 of C), if it breaks south count 5 waves down on a 60 min to catch the end of this larger wave C.
1.50 is obviously a big level and corresponds with a trendline along the lows. But personally I don't buy just at a level because it is a level, I want to see a completed pattern preferably at that particular level.
Reply
Asiontic EWStructures
Thank you very much, still new to trading and trying to learn as much as possible.
Reply
My pleasure, unfortunately that new low didn't come, but there is always a new trade around the corner.
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