AndyM
Short

NZD to follow gold in w5 down, target 0.58

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
108 4 7
HI All,
NZDUSD             is missing its wave 5 based on the available structure. I suspect we are going to see the lows below 0.62 in the next 2-3 months, so I'm short NZD. This will be in correlation with Gold             which has entered its final wave down yesterday. Watch for MACD signature I'll be looking for in order to understand the trend completion.
Isn't your 4 too gigantic compared to that small 1-2 thing? The 2, I don't even see it.
I agree on fading NZD now, but don't agree on the follow through for now, nor the count. I think the leg down is something else, and that it's done.
Cheers!
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AndyM PRO
a year ago
I agree, the whole decline from 0.88 can be regarded as a double zigzag, not an impulse. But there is still one movement down left, and it's supposed to retrace the a-b-c between 0.62 and 0.68. So anyway, it's worth giving it a a shot (or a rather a short).
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IvanLabrie PRO AndyM
a year ago
I'm short NZD via nzdjpy and eurnzd. So yes, short from the top here is good, stop above recent high and off you go :D
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IvanLabrie PRO IvanLabrie
a year ago
(yeah abcxabc was my guess-count)

Other methods that I use corroborate it for now. This looks like wave 1 is done, if you conside the last abc to have ended as a truncation (which I do for now).
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