Analysis on chart.
I'd suggest waiting and buying lower if possible.
Stop loss reccomendation doesn't change.
See related ideas for more info.
Good luck,
Ivan.
The tend is inside the decision zone and there is good opportunity to reverse due to :-
1- Completion of ABCD Pattern.
2- 1.618 Fibs extension for LH Leg
3- 1.27 Fibs extension for XL Leg.
4- 0.382 Fibs retracement for XY Leg.
5- 0.618 Fibs retracement for XF Leg.
6- Valid support structure level .
7-RSI Regular divergence
AUDNZD executed all three waves of a flat correction and is heading down, a good first impulse is completed (visible on 1H charts). I expect the movement to continue and to reach the target of 0.92 of wave 5 of a larger movement. The correction was large enough in terms of duration which makes me believe it will be a simple one (no X waves this time).
Note that...
This is a 0.5% risk trade I am currently in. the downward move looks impulsive to the downside and I guess there is still high probability to continue going down. And from looking at AUDUSD (still to go down) and NZDUSD (going up and currently finishing wave 2 down) this trade seems ideal :)
another "conservative"short entry could be entered after the price...
The pair has broken down from the bullish trend line and it retracing. Price could treat former support as resistance and reverse to fall to near-term support.
Entry is at the purple bullish trend line, not triggered as of writing. Target 1 is Short-term support @ 1.0929. Target 2 is the congested area around 1.08.
Ok, some traders noticed this vertical advance and want to short it.
I do too, but not for now. I'll wait for confirmation before going short, but it looks like a potentially very good trade.
It's reassuring that we are at the start of a new quarter, and many trends will start to reverse, and many pairs will come out of consolidation patterns as money managers...
AB is ~ .382 retracement of XA
BC is ~ 1.272 extension of XA
D is right in the thick of some previous structure AND near a nice even number (1.2400)
So the trade would look something like:
SELL @ 1.1240
STOP @ 1.1270ish
TP1 @ 1.1200ish (.382 retracement of CD)
TP2 @ 1.1170ish (.682 retracement of CD)
Risk: 30pips
Potential Reward: 40pips (TP1) + another...
Here we got a potential long with trend after a Bat pattern completion at horizontal minor support with trendline confluence, we just need to see some more oversold RSI and we are hopefully good to go long.
With the China news out and the hole Greece deal going south who knows whats gonna happen when the market opens, so be careful this week.
I´m sorry i have...
I took a look at AUDNZD trend of the last 4 years and saw a downward impulse in which we have completed wave 1, 2, 3 and are currently working out wave 4. Last time I looked at it I thought that wave 5 was also done, but it's not! The decline that started in Nov 2014 was actually a three, not a five. Therefore what happens now, is a counter-impulse in wave C of a...
This is a good opportunity to earn a good return.
The strong rally from 1.07 was due to the RBNZ Interest rate news.
The negative news had a bullish effect on this pair, causing a 300+ pip rally.
This rally is into an area where willing sellers overwhelmed demand.
Chances are, another fall is likely here.
The strong move up means there is no willing demand above...
Hello friends,
As a continuation to a glacier-paced trade from 22 JAN 2015, we are following the development of $AUDNZD's price action. Of late, a Wolfe Wave completed. Taking an alternate angle on the geometry by using the "Geo-Anchor" as a reference point to define the 1-4 Line, we are now looking at a potential target as defined in the following chart,...
Since the high on May 12th, the Aussie has been giving back its gains to the weaker Kiwi. Price has now retraced the rally from the 4.21 low @ 1.0039 and 5.12 high @ 1.0882 near the Fibonacci 38.2% retracement level @ 1.0557. This level coincides with a long running balance line rising across the chart. After nearly striking this price level, price reversed,...
AUD/NZD - Daily Chart - Bat Pattern
Here on the daily chart of AUD/NZD we have a nice Bat Pattern setup.
D leg completion at 1.037 giving us a nice reversal zone at previous structure support.
At 1.028 we also have a small support shelf for potential stops to go below.
We must see a completion at D leg before any long entry is triggered.
- SL must go above...
Idea is based on Elliott wave theory. According to my count, corrective wave nr 4 is on-going. Expect price to retrace into the 0.382 before wave nr 5 can initiate. Ratio confluence of waves nr 1 and 3 is used for the selection of the target. Good luck
