GWaves

$NZDUSD UPDATE | Wolfe Wave Points to Higher Highs

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
Hello Traders,

This is an update from my last post in the Daily Time Frame posted 6 months ago (related link). At the end of 11/25/2016 NZDUSD             created a BULLISH Wolfe Wave negating further decline. Whenever there is a Wolfe Wave pointing in the opposite direction it cannot be ignored and often times negates the Wolfe Wave that came before it. In this case, I think the latest Wolfe Wave will act as a time consuming event and delay the downfall of NZD.

When looking at the monthly time frame

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There is grander scale at work here. The Wolfe Wave and Predictive/Forecasting Model both agree to the downside. That is a force I will not fight.

However, in the granular scale of the Daily Time frame, we have a long opportunity.

Also take into consideration the Wolfe Wave created in the USDOLLAR             Index
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and the exhaustion of the move up in the Dollar index             at target 3 (which calls for a high probability reversal).
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A long position here with a stop loss below the recent low would provide for a low risk to reward opportunity. But of course, trade your plan and consider your risk tolerance on every trade.

Best,
Chartistry

Comment: Since original posting this trade is up 177 pips. If you got in this trade when it was posted congratulations. Still have plenty more to go.

More updates to come soon.

Best,
Chartistry
Comment: UPDATE: A BEARISH Wolfe Wave has now formed in the H4 chart indicating a momentary decline. We'll have to let the smaller WW complete in order to know if the larger WW is negated or not. As for now, put the h4 Wolfe Wave in the forefront.

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Best,
Chartistry
Comment: UPDATE: Although a higher high was made, the Wolfe Wave still remains in tact and in force.

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Best,
Chartistry
Comment: UPDATE: The recent high invalidated the Bearish Wolfe Wave. Could this be a sign of no rate change for the FED? Possibly...
Comment: UPDATE: Traders, If you took the short in the 4 hour time frame. Congratulations. Now, we have to reverse our positions and start looking to the upside as another Wolfe Wave has formed and is currently reacting strongly.

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On this chart you will see a date and a time. Jan 12 0.73400 ~

~ this symbol equals more or less.

What I am attempting to do here is predict the ETA and EPA of price using my own set of proprietary methods.

This is my first public attempt at predicting the ETA. I must make a note that the ETA is set to change as price action continues to develop.

Stay tuned for more updates.

Best,
Chartistry
Comment: Hey Traders,

If you have not seen the post already, take a look at the ETA and EPA model I have posted on an M15 chart of NZDUSD. It's purpose is to showcase the ETA and EPA model I have created using the Wolfe Wave.

$NZDUSD | Wolfe Wave | Proprietary ETA and EPA Model


Disclaimer: I have NOT taken the Wolfe Wave course by Bill Wolfe, the method I use to know the start and finish of the move from point 5 to the 1-4 line is proprietary.

Best,
Chartistry
Comment: ETA UPDATE: Hello Traders,

NZDUSD has crept lower and lower all the while remaining in the "Sweet Zone" of the Wolfe Wave.

A strong buy signal has occurred at the current level.

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The ETA model now points to January 23-27 with an EPA of 0.73800-900.

Stay tuned for more updates.

Best,
Chartistry
I have an original short position at 0.73. What should I do?
Reply
GWaves PRO margaux
@margaux, First and foremost, I would recommend you trade your plan. Secondly, the Wolfe Wave in this chart calls for the 1-4 line to act as the target, surpassing your original entry point.
Does this answer your question?
Reply
margaux GWaves
Dear @Chartistry, I think so. I am a beginner trader, so am a little apprehensive! Still learning. Margaux
Reply
GWaves PRO margaux
@margaux, We've all been there. Find the trading method that works for you and has proven to be profitable and stick to it. I personally like the Wolfe Wave.
Reply
margaux GWaves
@Chartistry, Thanks. I am trying to learn from your posts. It seems quite accurate! I just thought the fundamentals all point to a lower NZD, but I suppose as the Wolfe Wave shows, DXY is weakening ....
Reply
GWaves PRO margaux
@margaux, If there is one piece of advice I will give publicly, it is to stay far away from fundamentals when considering trades. Trying to predict markets with fundamentals is like asking your cat what the weather will be like in Zimbabwe on a Monday. It just doesn't make sense. If you scroll down to my older posts I have many lessons on how you can figure out the Geo and how you can trade it. You can also look up @4xForecaster He is a master when it comes to predicting the markets.
Reply
margaux GWaves
@Chartistry, Thanks much! I will study more what you have mentioned. There is just SO MUCH out there in the FX trading jungle. A lot of it is not very good and there are also people wanting me to sign up for very expensive courses and I dont have that kind of budget. I would like to find a strategy backed by a trading method that I can quickly learn from that works, and of course to read up on experts like you who are way ahead of the curve, compared to a greenhorn like me! Thank you ... Margaux
Reply
GWaves PRO margaux
@margaux, You are welcome. WolfeWave.com is a good website to learn from as well.
Reply
margaux GWaves
@Chartistry, OK thanks. I will do so. I just checked out 4xForecaster ... I think I am not there yet and not sure if I can follow what he says. Perhaps when I am at a more advanced stage. Meanwhile, i had better go quickly figure out my Kiwi short position!
Reply
Well done. I missed this long but caught the big short last month. Thanks for your posts. Keep up the great work
Reply
GWaves PRO I_see_BTC
@I_see_BTC, Thank you very much! It's sobering to hear that my posts help. Thank you for your continued support.
Reply
I was just looking at the Chart and said that there is an AB=CD there now which still makes it a valid Sell
Reply
GWaves PRO johnmad
@johnmad, Yes, the sell is still valid, even though we might have a little more room for upside to complete the ab=cd.

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Nonetheless, I will let the market prove me wrong in this scenario as the Wolfe Wave calls for a short from this level.

Best,
Chartistry
Reply
Even though i have just started Charting Wolfe Waves , i was looking at it different to you and hope one day to see it as clearly as you do, thank you for continually posting your work .
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Reply
GWaves PRO johnmad
@johnmad, Great work, I did not see the WW in hourly.
Reply
Nice trade and thank you for sharing
Reply
GWaves PRO johnmad
@johnmad, You are welcome.
Reply
sir SL PLZ
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