AUDNZD (Elliott Wave)Hello friends
In the AUDNZD currency pair, we see the completion of 5 full bearish waves.
These 5 waves are in a descending channel. Therefore, we can consider it as a corrective wave A.
Now the first thing that comes to mind is the beginning of wave B.
But what is the condition for the formation of wave B?
The first case is the formation of a higher high (HH)and the second case is the breaking of the downward trend line formed on the roof of the channel.
So, to start a buy trade, you can wait for the break of the downtrend line of the channel and pullback to it.
The first target is 1.08500 and the second target is 1.09500.
If the price fails to break the channel and make a lower bottom, our theory will be invalidated.
To support me, I recommend that you install Trading View software on your phone and see my analysis and support me with your comments and Boost.
Be successful and profitable.