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AUD/NZD Multi-Decade Support Level (part 5)

Daytrader21 Publié 27 déc comme Analyse sur AUD/NZD, Cible: 1.0638, Date: 2 de février, 12:00 GMT  dans #Technical analysis #AUD/NZD #Elliott Wave #Retracement #Momentum #Multi Decade Support
AUD/NZD is approaching a multi-decade support level at 1.0400 which I think will provide some good trading opportunities. In Figure 1 you can see the monthly chart and the strong sell of from the past few months. Since April 2013 after we broke the psychological level of 1.2100 big round number the downward momentum accelerate and we barely see any kind of retracement. But since we hit the 1.0500 level market has started to bottom and move inside some trading boxes, on top of each other. However…
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Daytrader21 avatar
Daytrader21 24 jan

Update 2: After making a new low at 1.0350 the momentum has started to pick up and we're now in the process of developing the first wave A, correcting the entire structure that started from 1.3780 sell off. The five wave sequence looks completed. For next week we have support at 1.0500 big round number

Daytrader21 avatar
Daytrader21 28 jan

Update 3: As expect 1.0500 big round number has provided a good support and right now we're heading for a retest of 1.0755 resistance level. For now the market should be contained inside this two levels. Based on Elliott wave we are forming a flat so we could expect further consolidation

WallStreetBlog avatar
WallStreetBlog 1 fév

Thanks!!!

Daytrader21 avatar
Daytrader21 1 fév

Update 4: As per my last update we indeed retested previous resistance level and gone beyond that all the way up towards next round number 1.0800, where we had a supply zone. From there we indeed reacted and come back lower towards 1.0600. Right now we're in a much more complex price structure and it may be the case we're doing a double zig-zag pattern, see figure.

Metal_Mind avatar
Metal_Mind 1 fév

This is a volatile pair so you have all chances to meet your target.Good luck

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AUD/NZD Multi Decade Support Level (part 4)

Daytrader21 Publié 12 oct comme Analyse sur AUD/NZD, Cible: 1.1347, Date: 1 de décembre, 12:00 GMT  dans #Technical analysis #AUD/NZD #Elliott Wave #Multi Decade Support #Psychological Level #Trading Boxes
AUD/NZD is approaching a multi decade support level at 1.0400 which I think will provide some good trading opportunities. In Figure 1 you can see the weekly chart and the strong sell of from the past few months. Since April 2013 after we broke the psychological level of 1.2100 big round number the downward momentum accelerate and we barely see any kind of retracement. But since we hit the 1.0500 level market has started to bottom and move inside some trading boxes, on top of each other.
…
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Daytrader21 19 oct

Update 1: As expected wave D has completed and current swing low at 1.1000 should provide a strong support and the base for the next rally. For next week the resistance stands at 1.1100 which is where we opened last week

Daytrader21 avatar
Daytrader21 15 nov

Update 2: Since my last update not only that wave D has been completed but the entire sequence ABCDE has been completed which based on Elliott Wave we should now push higher and break above current congestion zone. Current resistance zone remains 1.1300 and we need a break and close above this level in order for the bullish sentiment to be in charge again

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