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cheesywedges
Feb 28, 2021 11:10 AM

Study of Elliot Wave on NZDJPY, retracing to $76.2 Short

NZD/JPYOANDA

Description

Pattern
Obvserving Ascending Broadening Wedge. This will confirm when the candle bounce at the orange trend line
Elliot Wave 1-5 already completed and we are in Wave A. However it is not yet Wave B until we see a bullish candle close

Indicator
MACD - Hist < 0, looking for it to reverse between Wave A - B
Stoch - K & D is below 20, signs of a reverse is strong
RSI - below 40, sign of oversold already
Comments
WicktatorFX
Love this
cheesywedges
@Wicktator, Much appreciated
TRADESBYZION
👀
cheesywedges
@TRADESBYZION, Thanks for input
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