In this Pair we see a visible Trends in DAILY time frame, in which you can see a Declining Phase, Accumulation phase and then currently in Bullish trend. THE DEFINITION OF DOW THEORY IS WINNING. So currently we plan a small SHORT ENTRY of around 170-200 pips as the Short TP hits we take a LONG Entry from there for 200 pips more. HAPPY TRADING.
Audczk is showing strength on the weekly timeframe. Consider buying on lower timeframes.
Harmonic + Elliott Waves, AUDCZK. * T1-16.923 Fifth normal-Wave expectancy, on account of already 3-wave extended. Plan (A) Buy-Safe beyond 16.2 for targets 16.7/16.23/17 Profit-Range 19.923 to 17.175, for "A", "B" and for "C" correction. Plan (B) Sell if price would not try to move above 17.175 for corrective-wave for target 16.441 and below 16.200,...
Analysis: Potential short on AUDCZK -Approaching key resistance zone -Price in downtrend -61.8% retracement of previous impulse leg -100% projection of previous corrective structure -127% extension of corrective move -100% AB = CD projection Trade safe and at your own discretion!
Short AUDCZK @ 17.00: TP @ 17.34, SL your choice