Short NZSUSD, Swing, Elliot Wave
Updated
I've been tracking a few FX pairs with Elliot wave principle. Chance upon this NZDUSD chart, which is at the terminal stage of wave 4.
Bearish Impulsive wave 5 should start very soon.
Pattern invalidated with close of above 0.738, by Elliot rule of wave 4 cannot overlap into wave 1
Trade idea : Short at 0.73, SL 0.738 (Close), TP : 0.513 (1.618 x Wave 1)
Bearish Impulsive wave 5 should start very soon.
Pattern invalidated with close of above 0.738, by Elliot rule of wave 4 cannot overlap into wave 1
Trade idea : Short at 0.73, SL 0.738 (Close), TP : 0.513 (1.618 x Wave 1)
Comment
Trade still active. Looks like a H&S top. Break of 0.725 will have confirmation bearish bias for the above pair
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