FX:NZDUSD   New Zealand Dollar/U.S. Dollar
1441 19 97
The strong up move on the NZDUSD             is now making a corrective structure, we know correction can be complex so some more down is possible but could be short lived .
I am Buying the 618 or the break out for for the next up impulse.
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Great Anil, I'd like to see a another deep regressive move prior to a buy. Thanks for the analysis
+1 Reply
But isn't the pair in a strong downtrend ?
And the move down isn't impulsive as well ?
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yes, same as audusd and audchf possibly.
Looking at these, waiting for the start of wave C.
+3 Reply
anilmangal PRO IvanLabrie
yes agreed
+2 Reply
alr14uk IvanLabrie
Hi Ivan, can you post a chart with waves A & B on please? I'm struggling to spot them... Thanks.
+1 Reply
Anil's the specialist, I also don't use traditional EW but am starting to study neowave (Glenn Neely's method).
Anil I think has his own variation as well.
Wave A is almost invisible, it's the instant rejection from the lows, you can see it in the 15m chart.
Wave B is the sideways part, consuming more time than price range, and wave C should be a thrust up similar to wave A or 1.618 of it in size, and consume the same time as wave A and B added up and divided by two roughly.
+1 Reply
alr14uk IvanLabrie
Thanks Ivan... I think I understand it now! I'm new to EW, as you've probably guessed!
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It broke up and it's correcting if you want to jump in.
We have a great couple trades here.
I entered AUDUSD long already, it broke up too.

snapshot
+1 Reply
great job, i think no more dip.
+1 Reply
It breaks up but retrace down again. Do u consider this is false breakout ? Or once it break the trend line, it will retrace and will go up again ?
+1 Reply
it has to consolidate
+4 Reply
glaxo anilmangal
What I mean by my question, if it consolidate after break out, this is a sign of continuation to up or not ? Because I want to realize the concept
+1 Reply
Not really, it has to break out of that correction than the triangle breakout has been confirmed.
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i conccur
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IS NICE ANALYSIS
GOOD LUCK
+1 Reply
so is this a clear break to up or it will consildate again down??
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anilmangal PRO UAE_FIGHTER
consolidate above breakout for up
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clear
thank you
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Dear Anil. It breaks up and consolidate to down trend. So that this breakout to up was false. How I can know the false break from the true one ? Because I think this is the key of successful trade
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