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WaveAlchemy

Newzealand Dollar $ vs US Dollar $ (NU2.FE)

Long
New Zealand Dollar / U.S. Dollar (OANDA:NZDUSD)  
WaveAlchemy Updated   
OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
5
0
SL = 0.7030

Good luck :)
Trade active
Comment:
SL = Break-even = 0.7055

Wave Update:
Phase 4 = definitive completion
Phase 5 >>> pending

Analysis for phase 5:
There is no structural resistance in sight so there is potential for phase 5 to extend which would support this expanding diagonal wave form.
Phase 5 must exceed 110% the length of phase 1 should this wave form come through.
snapshot
Trade closed: stop reached:
Break-even
Comment:
The actionable micro degree wave (blue) that unfolded as a failed converging diagonal fits perfectly into our long term analysis of a strong downtrend. The failed diagonal is the composition of a bullish correction. Whether this incline marks the end of the bullish correction is yet to be confirmed.

snapshot
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