Wave-Trader
Long

GBPNZD buy breakout for C leg

FX:GBPNZD   British Pound / New Zealand Dollar
2549 15 68
I am expecting breakout of corrective flag which is in a B wave if it breaks up with strong candles then look for buy.
Comment: I was expecting breakout with impulsive candles but price broken with corrective candles. If price breakdown small corrective channel than it may continue the bearish trend. I am still expecting wave to the upside.
Comment: ABC still on card here is the update.

Comment: Amazing B did not violate the A impulse and completed the C wave. Watching price action for further setup.
Comment:
Comment: This pair did well but it seems to me that it is still in the daily structure
Comment:
Comment: Sell on retest....
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GBPAUD also has similar pattern for a big sell.
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Ajoy12345 Ajoy12345
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Ajoy12345 Ajoy12345
@Ajoy12345, As you can see the RSI has fallen bellow June 2016 level into over sold condition and the wave is impulsive in nature.
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Ajoy12345 Ajoy12345
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Hi,

Any update on this boss? The structure is still the same or expecting to continue downtrend?

Thanks in advance.
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Not so long ago, you showed us what are impulsive movements vs corrective movements. Now, can you show us what you mean by impuslive candles vs corrective candles? ..is it similar (i.e. how quick the price action is), or are we looking at actual candlestick patterns?

Thanks!
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Its coming down again
what to be done sir?
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Ajoy12345 insane844
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Ajoy12345 Ajoy12345
@Ajoy12345, Since AUD is climbing against NZD in AUDNZD pair and in GBPNZD and GBPAUD , GBP is the weakest currency and AUD is the strongest. I would suggest shorting weakest against the strongest for better returns.
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Thanks for the idea boss. But looks like its in consolidating mood taking really long time for move. Do you still say the long call is intact ?

Thanks
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