AUDNZD: Looking for long opportunity
Updated
Talking Point:
Technical Strategy: Turning Bullish
Elliottwave View: Possibly flat correction over.
Analysis
We were bullish on AUDNZD since Sept month and booked handsome profit on reversal 1.0340. We now looking to re-initiate long position on confirmation. Current pricing structure suggesting a flat correction near previous wave 4 region. This region provide target zone for wave 1 after reversal. As current price is trading in a channel, we are seeking for few confirmation to mark this as a flat correction and initiating long position with defined stoploss.
Action
Looking for long opportunity for targeting above 1.0910
-- By hoagtrading (Hoagtrading.com)
Technical Strategy: Turning Bullish
Elliottwave View: Possibly flat correction over.
Analysis
We were bullish on AUDNZD since Sept month and booked handsome profit on reversal 1.0340. We now looking to re-initiate long position on confirmation. Current pricing structure suggesting a flat correction near previous wave 4 region. This region provide target zone for wave 1 after reversal. As current price is trading in a channel, we are seeking for few confirmation to mark this as a flat correction and initiating long position with defined stoploss.
Action
Looking for long opportunity for targeting above 1.0910
-- By hoagtrading (Hoagtrading.com)
Trade active
Pair is moving as expected and we are already in a trade for our targets. We mark this as a flat correction as described in above analysis and moving our stop loss 1.0590
-- By Hoagtrading.com (Twitter: @Hoagtrading)
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