Hi Traders,
The AUDNZD set to make a bullish impulsive move in wave (C) of a weekly zigzag pattern.
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The weekly chart (tradingview.com/x/Kt5Jjjkq/) of AUDNZD shows that the decline from March 2011 - April 2015 was a textbook five-wave impulse which supposed to followed by a three-wave correction according to Elliot Wave theory.
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Since April 2015 low, prices had completed a five-wave impulse in (A), a double zigzag in wave (B) and prices are in wave (C) of the supposed three-wave corrective structure.
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Not only that Elliot wave confirm the completion of wave (B), weekly price action also closed as a bullish engulfing bar from a key support level.
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Working down to the H4 timeframe, we can also see that prices have broken out of a descending wedge and resistance level in wave (i). Once the wave (i) is completed, we will look for a three-wave correction in wave (ii) to position ourselves in the emerging bullish trend.
.
The overall target for this move is around 50.0% retracement of the decline which lined up with the level where wave (A) equals wave (B).
.
I wish you all a fantastic start to Q2.
Veejahbee.
The AUDNZD set to make a bullish impulsive move in wave (C) of a weekly zigzag pattern.
.
The weekly chart (tradingview.com/x/Kt5Jjjkq/) of AUDNZD shows that the decline from March 2011 - April 2015 was a textbook five-wave impulse which supposed to followed by a three-wave correction according to Elliot Wave theory.
.
Since April 2015 low, prices had completed a five-wave impulse in (A), a double zigzag in wave (B) and prices are in wave (C) of the supposed three-wave corrective structure.
.
Not only that Elliot wave confirm the completion of wave (B), weekly price action also closed as a bullish engulfing bar from a key support level.
.
Working down to the H4 timeframe, we can also see that prices have broken out of a descending wedge and resistance level in wave (i). Once the wave (i) is completed, we will look for a three-wave correction in wave (ii) to position ourselves in the emerging bullish trend.
.
The overall target for this move is around 50.0% retracement of the decline which lined up with the level where wave (A) equals wave (B).
.
I wish you all a fantastic start to Q2.
Veejahbee.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.