anilmangal
Long

NZDUSD Daily corrective structure

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
4968 24 134
The NZDUSD             is in a corrective structure , the big question is , is it a flat or a wedge?

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nice one..
+1 Reply
i am targeting 0.75.. as per its weekly pattern..
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Hi Anil,

I've been following this move down for a while. That big wave down looks like a 3rd Wave so this current correction looks an expanding triangle. As I post this at 23:40 GMT on Feb 11, 2016 the fins leg E looks like it's almost over before Wave 5 down begins and then, of course the explosive Wave A upwards as exhibited on your chart above. Am I right?
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Please add your chart here so we can see what's your view.
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cdhinjan anilmangal
https://charts.mql5.com/10/182/nzdusd-d1-go-markets-pty-2.png
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fOREXeCHO cdhinjan
Good chart, but I think NZD will touch as high as 0.71-0.715 area for wave 4, and then sharply down to 0.55 in wave 5 before a serious rally.
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cdhinjan fOREXeCHO
Appreciate it Anil. Many thanks.
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Also seems like Wave 2 was a flat correction so Law of Alternation would make this 4th wave a bit more complex than a Flat. Hence an expanding limiting triangle.
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Not sure how to insert charts but you can view mine with analysis here at https://charts.mql5.com/10/182/nzdusd-d1-go-markets-pty-2.png
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Thanks for sharing, but our understanding of wave analysis differs.
+1 Reply
cdhinjan anilmangal
I'd like to learn from you. Do you think that NZDUSD will go back up to 0.71 because of his is wave 2 region? Basically it's to early for Wave 5 down right? I've been following your videos and I love your stuff. I want to learn from you Anil.
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My take is a triangle coz the wave B didn't equal or overtake start pt of wave A and hence with closing of wave C beyond wave A end point , the properties of FLAT(expanded or Running) do not qualify.
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anilmangal PRO TradebyRik
There is also a regular flat.
+2 Reply
TradebyRik anilmangal
OK. maybe i have to go back to the books to understand the nitty-gritties in a better way. :)
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It will be a nice trade either way. Thanks Anil !
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NZDUSD still in the down trend.
anil what about this
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SHORT
i think your new idea is quite matching with this old one
+1 Reply
Anil, I am seeing divergence on MACD too.......I am thinking it will go down and start Wave 5
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I think maybe it repare for next short
https://www.tradingview.com/chart/5pIsSPew/
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Kiwi is very messy at the moment
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it seems it is playing between:5/8 and 6/8 on murrey math lines,before rises to 8/8...
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If its a wedge it would be 3-3-3-3-3 structure.
snapshot
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Now thats called a perfect corrective move forecast! Well done dude!
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