Elliott Wave Analysis: NZDUSD Trading In A Correction
On the NZDUSD chart we ar tracking a 3 wave corrective rise, that could prove to be an expanded flat with final wave C) already underway. If that’s the case, then wave C) will be constructed by 5 sub-waves with current wave three in final stages. regarding the intra-day view we think that a fourth wave correction may be around the corner, that may slow down price for a few hours. the ideal reversal for this whole higher degree correction could later be around the 0.71150 region.
NZDUSD Short term buy and longer term sell
i’m expecting longer term short from the top and short term buy from current price. presently price has broken the trend reversal pattern on lower time frame i’m watching for trend continuation pattern if i’ll see trend continuation pattern i’ll update the idea.
NZDUSD Long at 0.7012 & 0.6986 short term bounce play
NZDUSD playing a brief term bounce on kiwi Long at 0.7012 & 0.6986 long term my bias is still short Lets see how it pans out…
NZDUSD: Sell the top of the rally
NZDUSD has an interesting setup here. RgMov has currently changed direction showing the trend is potentially down, so it’d be safer to sell it at the top of the ongoing correction, to rejoin the recently started downtrend. This makes me think gold and the euro will behave similarly, which is what I had originally thought.
The dollar long term uptrend may need resumed before our eyes, and we’re seeing the primary correction in daily scale, thus do not miss it! i will be looking to short against a key level, once price action favors it, so, for the time being i am standing aside and watching. we’ve enough trades to go long during the dollar correction