AUDNZD update
Updated
I still think we need at least one more leg down to complete the correction of the last bullish impulse.
Therefore I'm looking for a bearish break for wave C lower. I will be looking for a consolidation on lower time frames and sell the continuation once we see that happen.
As long as we don't see a bearish impulse followed by a consolidation (15 min tf for example) price can easily extend higher.
Once wave 2 is in place we will be able to buy AUDNZD long term with an incredible risk reward.
Updates will follow.
Therefore I'm looking for a bearish break for wave C lower. I will be looking for a consolidation on lower time frames and sell the continuation once we see that happen.
As long as we don't see a bearish impulse followed by a consolidation (15 min tf for example) price can easily extend higher.
Once wave 2 is in place we will be able to buy AUDNZD long term with an incredible risk reward.
Updates will follow.
Note
Nothing changed yet, for a sell watch for a minor bearish impulse followed by a consolidation. That minor bearish impulse might be in progress at the moment.
Note
AUDNZD is in a consolidation before we will see that major bullish move.
Short term I think we will see at least another leg lower on the smaller time frames. IF that results in a nice pronounced correction like the indication of trend lines show I will be looking for a buy set-up and see whether the correction is over or that we need another leg lower before the main bullish trend takes over again.
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