AUDNZD has almost finished a 3 wave structure after the big upmove in Mar/Apr 2015 and ripe for an up move. The price started moving up around mid September but then came back down. Now its look like more of a H*&S in making. The upside target is 1.12 or beyond...... The neckline for H&S is 1.0769. The AB=CD move also targeting around 1.16 ( 2 Blue...
AUDUSD finally going through the rebound phase. There is a bat completing @.7444 which should be the minimum target. It can go further down though. It will require break of .7250 to turn bearish near term.
Possible scenario near term. A move towards .7640 is possible which will complete an alternate AB=CD pattern (CD=1.618AB). There will be a bit of consolidation from yesterdays top to .7340-.7300 area and could extend toward.7250 area which is the 0.618 retracement of the recent up move. Price is expected to shoot up from that level towards 0.76. Below .7250 the...
if .7160 support broken next level is .7070. and possible downtrend to .7000 area before moving up. Trade Plan: Entry: .7145 TP: .7070 SL: .7200
Hi I am a newbie and this is my first published idea. So I will appreciate any constructive comments and feedback. Please see the detail of the idea in the chart. *DISCLAIMER* This is just my own analysis and trading journal. it is not a recommendation for anyone to trade. Everone should trade according to their own plan. Thanks*