anilmangal
Short

NZDUSD breaking the consolidation

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
20433 40 373
Hi Guys the NZDUSD             is about to break the consolidation, ONLY if you have a tested strategy to trade such breakout you should trade it . This pattern could still make one more move up as a triangle with 5 waves in it, before the breakout.

Trade with care
Thank you for your support.
Comment: Similar set up on EURNZD, I will post here so as not to spam the site with too many charts.
NZDUSD breaking the consolidation
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Comment: ok the EURNZD is lower i can't delete the mistake at the top
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Comment: Daily view
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Comment: The power of wave analysis
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Comment: The power of wave analysis, If you are not in wait for a corrective structure on lower degree before the buy .
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YouTube: https://www.youtube.com/channel/UCmvABDWwbqRvh0QGAf-86_Q/videos
Facebook: https://www.facebook.com/ProwaveTrader
Training : add to skype mangal457
Looking forward to see how develops...
+1 Reply
100% great job .
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How do you know that this impulse will break the structure? It can go up from the bottom line.
+4 Reply
Ruben68 AntonBilan
that's why you need to read his comment. As you can see it could be the (d) wave of an abcde triangle. if that's the case then don't sell. if it breaks out then apply your strategy to see if you can sell
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it escalated quickly :)
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Waiting for a Flag before enter :)
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debainnoob skoerding
What are you looking for when you say flag?
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trade active?
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Hi Anil, when you talk about Risk Management, is this risk reward acceptable by your risk management ?
(i know its a personal question, im just curious ^^)

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Thanks very much
I sell Nzd/usd
And buy eur/nzd
Good jop
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Hi Anil,

Just a few questions, I will appreciate it if you can answer it since I'm new to trading rather than following blindly as to what your chart mentions.

Does the term 'Breakout' means that candle should close below the line mentioned as sell setup?

Thank you for your time & your videos! :)
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rsigna ubersorg
Even i was wondering that and yes, it does mean that.
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Be careful of fakeouts Ubersorg.

A breakout is usually determined by a strong one directional move, that closes with as full a candle as possible. A bearish candle with a big ass wick to the downside might be considered a rejection of that level, rather than a confirmation of a breakout.
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ubersorg ChristianHoeghHolm
Thank you @Rsigna.

@ChristianHoeghHolm, Lets take this chart as an example. Over here, The candle appears to be quite big, does that mean it might be considered as rejection?

And a rejection is considered as a point where tend might reverse?

Thank you both, Highly appreciated! :)
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In the above case, (You might have meant to link a chart?) we saw a very strong (Very big) bearish candle close some 30 pips below the trendline resistance. That is definitely a confirmed breakout.

If this was a fakeout, the candle would have closed above the trendline resistance with a very big wick.
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Ruben68 ChristianHoeghHolm
I learn a lot, reading comments below the charts of Anil :)
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ubersorg ChristianHoeghHolm
Thank you Christian ! :) Its a great help! God Bless! ^^
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Here is an example of a fakeout.

https://gyazo.com/b8367abd725c2ac474a0ab5bb69fdde2

The orange line is the Trendline Resistance.

As you can see, the price broke higher than the trendline, and then it shot back down and closed below the trendline. (Big ass wick)

That was a fakeout.

Most of you have probably read Anil say something about "Wait for the breakout, and enter on the consolidation/retest"
This is what he is trying to help you guys stay clear off. (Don't worry, I have a stop loss in place on that order within my allowed risk management)
- If it's not clear what I'm trying to portray here, let me know.
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Can i go this trade now?is it to late?
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AnilMangal... pls update your chart
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What the likely time period for the upward c wave to completion? Couple weeks, Month(s)?
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There is some divergence in H1 so maybe a bounce
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Thanks Anil
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Well I'm just gonna go ahead and say it. BOUNCE!
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judderod judderod
Thanks for the update Anil, I bought the low already and will add to the trade if it breaks to the upside as you've shown.
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judderod judderod
+150 pips so far :)
+1 Reply
Well done!!!
+1 Reply
thank you mr.anilmangal
very good
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Just entered the trade with a buy setup... Let's see! Thanks for the great job Anil !!! Really nice and simple charts! Great great great job!!!
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Just wondering....Can your wave method work well in indices and as well as stocks? Why you only trade Forex.
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I can say yes - works well - AAPL agrees for sure with wave theory ;) and many others
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CyBriz docholliday
Thanks :) hopefully can see more post other than forex from you. :)
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works on any chart
+2 Reply
Super bro
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Excellent i took this trade from the break up from the bottom, ill get in again if it breaks this structure upwards again, thankyou for the excellent posts Anil.
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thanks
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Thank You Anil! I was just watching this chart.
Can you update eur/nzd plz? It also broke and i'm waiting for correction before any sell, am I rihgt?
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anilmangal TOP MartinVlaev
will update now
+1 Reply
thank you Sir anilmangal. im now understand a little bit of how to do the wave trading with ur guidance and im always correlate with my 20 ema line for the entry and also my basic trading knowledge. Thank you so much. God bless you :')
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hi anil, could you plz publish a new idea when the direction change? i think many people like me will pay more attention to the new idea instead of updates. thanks.
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