First wave cost 15 bar's time
Retracement of first wave cost 51 bar's time and retrace to Fibo 38.2
Second wave cost 17 bar's time
Retracement of first wave cost 41 bar's time and retrace to Fibo 23.6 , now cost 61 bar's time and position at Fibo 38.2
More weak than previous retracement.
So we try to sell and the Fibo 38.2,stoploss at top of Fibo 38.2
The logical of long for audnzd:
Step 1: On the week chart current wave was the corrective wave. because the pattern from 2015/7/19 to now was too mess to be a impulse wave.
Step 2: So if the Step 1 is correct, then the chart from 2015/4/12 to 2015/6/28 must be to impulse wave. because according to the wave theory. corrective wave and impulse wave are alternate...
The trend line support and neck line support which price touched the Fibo 0.768 and the pattern same as usdjpy.
And have the best RR
Take profit at:0.7730
RR: 95:1 it looked awasome
In Week Chart:
Big impulse wave 12345 already finished. Now begin run the corrective wave ABC
and current in the C wave's 3 wave.
Buy at 1.07200
Stop loss : D1 Previous low point
Take profit: Let it run