OANDA:NZDJPY   New Zealand Dollar / Japanese Yen
Hello Traders

We have a complete expanding flat and the last bottom was 0.786 retracement of the upward swing. It got a reaction from that level which can be the reversal impulse, and now it's making a correction for more upside. As you can see, there is no divergence inside of that correction. So, it can come down and make a 5-wave structure. That's why I'm waiting for the breakout and correction to place an entry order. If it breaks the yellow trendline my target will be huge, otherwise, we will get one more drop . We will see how it will go, but when it approaches the trendline , I'll move SL to BE and let it go.

For more details and the daily updates please watch my daily analysis videos on Youtube.
Trade with care.
Bulent
Where? Isn’t demand lower?
Reply
@BBrass, Hey. Sorry, but I don't understand what do you mean.
Reply
BBrass WaveAnalysis
@WaveAnalysis, Downtrend, I thought it was a sell. Full Body of Candle broke low on Monthly and I didn't see the trade. I got to the comment a little late. Sorry brother.
Reply
@BBrass, Hey. Let's see if it's ready for upside now. I think the drop has ended.
Reply
BBrass WaveAnalysis
@WaveAnalysis, Yep, Looks like it!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out