TRADE: SELL@.68710 : NZDUSD: In An Uptrend But First a Triangle

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
1635 9 40
NZDUSD             , just like my prediction on the Aussie, has already begun it's LONG TERM move up in what should be Wave (C) of the ABC Zigzag corrective structure. But what we see now is that before it will continue to move up, there is some consolidation to get through. Here's my analysis:

So back on Nov. 17th, more than a month and a half ago, I posted this trade about this pair:

There was a crab that was filled and after a small test of the crab's PRZ, prices took off to the upside. Now I didn't get this trade since it got stopped out when prices dropped into the PRZ, but I did get another LONG trade later after prices had retraced back down somewhat. Here's that trade post:

So the point that I'm making is that the crab in my analysis clearly indicated this uptrend. And I called it more than a month ago. It is what my reading of the chart and my analysis said would happen....and it happened!

So now what is happening is that prices have now reached some critical levels against some MAJOR SR Structure resistance zones. And if these zones hold, then we should see prices now retreat and retrace.

So for this uptrend, I have counted it as a wave (1) of a possible 5-wave             wave (C) up. If this is a wave (1), then what we should be seeing next is a wave (2) retrace of the wave (1). What could happen now is that wave (2) could unfold in a triangle pattern .

In the 4hr chart above, there is a POTENTIAL cypher that is now in play with the C point being established now. If that C point holds, then we should be seeing prices decline along the CD leg of that cypher right on down to that rising TL which would serve as the lower TL of that possible wave (2) triangle. There was also a COMPLETED Alt Bat to which prices are now into the PRZ of that Alt Bat .


From Nov. 18th to now, we have seen this pair on the rise in what I see as the beginnings of the wave (C) up. If this is indeed the wave (C) up, then this recent uptrend from Nov. 18th should be only the wave 1 of the possible 5-wave             move up. What is also possible is that we will now see a couple of weeks of consolidation going on in what would be a barrier triangle. Of course, it could just keep going up......

On this DAILY chart , you can see better that Completed Alt Bat but you can also see that large POTENTIAL Bat (blue) whose B point line as well as some other MAJOR SR Structures near it are providing resistance. You can also see how that completed crab (orange) fit into the overall picture and showed the recent uptrend. Also, I have drawn in the POSSIBLE wave (2) triangle.

I and my members are already in on the SHORT side for this trade. I am watching for that POTENTIAL cypher to get filled. From there, I would take some point near the cypher completion to take profits. I'll be watching closely for signs that there will be a triangle forming. If so, then I'll be trading the triangle. Stops go above the recent highs.
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what is your take profit for this set-up?
It's on the chart.
+2 Reply
marcus123 EverythingForex
where pls?
It's on the freakin chart dude, stop asking for free handouts. You're the type that likes free signals and doesn't have the ability to handle risk aversion.
Welcome back. Happy New Year.
My sincere thanks on your sharing of trade ideas.

Thanks! I had to take a break from posting here as it was just getting too much with the trolls. But I'll keep posting as time allows though.
+2 Reply
AhmadFarhan EverythingForex
there should be a block option. wc back
ulak EverythingForex
Thank you..pls keep posting :)
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