EverythingForex

NZDUSD: Break Of Resistance Signals Further Upside In Correction

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
666 1 14
NZDUSD had been in a extremely confused state as of the past few weeks with a very difficult to count let alone trade uptrend. But post-NFP, things seem to have cleared up as to what it is to do next.

MAIN CHART ABOVE (4HR CHART)
From this 4HR chart of NZDUSD, the subwave breakdown of this wave (3). By my count, we have not seen the end of the wave (3) yet and in fact, the wave (v) of (3) is ending in a probable ED that is also a POTENTIAL Wolfe Wave. The target line of this Wolfe Wave is right in line with my wave (4) projections.

WEEKLY CHART
In the Weekly chart of NZDUSD, what we are seeing is that this pair is in a overall downtrend but at the moment is in the corrective wave 4 retrace and that wave 4 is not yet done. We should see another push higher before the correction is done with. There is also a POTENTIAL Crab that is waiting to be filled that could be defining the end if the wave 4.
snapshot

DAILY CHART
This Daily chart shows my wave count for this convoluted upward progression of this wave 4. Now that things are more clear, we can see that this wave 4 is unfolding in a 5-3-5 ABC Zigzag pattern with the waves (a) and (b) already completed. The wave (c) is in progress and currently, prices should still be in the wave (3) of 4. The POTENTIAL Bat that I show in the above Weekly chart is defining this move up and here is clearly visible as to the internal wave count of that CD leg.
snapshot

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.

If you desire to receive ALL my analysis on pairs I trade and cover as well as REAL-TIME trade signals, consider joining my private group and my members. You'll get REAL-TIME trade signals and analysis as the trade happens and discussions those trades live. Interested? Go to efxselect.com to subscribe and get these signals in REAL-TIME!

Faceb00k: http://goo.gl/Mb81w7
Website: www.efxselect.com to subscribe
Join my Skype chat room! It's FREE (requires registration): Skype link: https://goo.gl/2fwvsa
Documented Trade Log here: http://bit.ly/29AeqnC
BIG NEWS! Want a FULL WEEK of FREE ACCESS to my member's charts & analysis? If you want it, PM me! Also, for all who PM me, you will be entered to win a FREE MONTH'S Subscription! PM me for details!
Thank you for your time putting your charts together and sharing, they are amazing.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out