AudNzd Upward Trend To Resume ~ forex position trading signals
The bearish trend from 2011 was a clear impulse wave.
According to elliot wave theory, a 3-wave correction often follows a 5-wave trend. These corrections have different patterns; one of which is the zigzag pattern.
The 5-wave impulse in Audnzd ended and immediately started the 3-wave correction in April 2015.
The first wave (wave A in red) of the correction is also a clear impulse wave which makes us believe that the expected corrective pattern could be a zigzag pattern. The B wave (in red) which is the second wave of this correction is a clear corrective (zigzag) pattern .
The chart below shows the building waves of the probable correction in the weekly chart above.
According to elliot wave theory, a 3-wave correction often follows a 5-wave trend. These corrections have different patterns; one of which is the zigzag pattern.
The 5-wave impulse in Audnzd ended and immediately started the 3-wave correction in April 2015.
The first wave (wave A in red) of the correction is also a clear impulse wave which makes us believe that the expected corrective pattern could be a zigzag pattern. The B wave (in red) which is the second wave of this correction is a clear corrective (zigzag) pattern .
The chart below shows the building waves of the probable correction in the weekly chart above.
src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4xHvo-0QkC4cCCjEEOSF4tQG8u13WkkreYnLDUMxzLZKCyNzzSgcjMaMRCOyk_ReoVFm0UEl-61hBMSyH13IamscF8hr_eiLk0Q-WHfCnLoeBO_8ex6bEriXA2jW0_FrO_xR9gpy3nwk/s660/Audnzd+29th+Oct+H8.png" width="520">
This pattern could be about to complete as price will be expected to rally in a 5-wave motive wave to go above the high of the Awave (1.164) and to 1.21755.
The Bwave ( in red) is a clear zigzag pattern and its last wave, wave (c) is a clear impulse wave terminating with a probable ending diagonal shown clearly below by the falling trendlines.
Price could trace down a bit before rallying to break the upper trendline upside. This will be a trading opportunity to buy this pair with a good risk/reward ratio.
There could be a trading opportunity to ride wave C to 1.21755
More info for AudNzd Upward Trend To Resume ~ forex position trading signals:
This pattern could be about to complete as price will be expected to rally in a 5-wave motive wave to go above the high of the Awave (1.164) and to 1.21755.
The Bwave ( in red) is a clear zigzag pattern and its last wave, wave (c) is a clear impulse wave terminating with a probable ending diagonal shown clearly below by the falling trendlines.
Price could trace down a bit before rallying to break the upper trendline upside. This will be a trading opportunity to buy this pair with a good risk/reward ratio.
There could be a trading opportunity to ride wave C to 1.21755
More info for AudNzd Upward Trend To Resume ~ forex position trading signals:
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