3 weeks ago I published my bearish projection for AUDNZD where wave 5 was not in place yet for wave C of wave B. We now got the confirmation by means of the break below 1.03. The bigger picture won't change as long as the bottom for wave 1 holds at 1.00235.
Sorry I wasn't able to update a lot last week but will post it now and update more pairs this week. Don't worry if you missed the first buy because this pair is about to reverse for 1.15 and 1.18, we will see many high probability entries to build a portfolio of AUDNZD buys for the medium and long term. Have a good trading week!
sketchmaster
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The trend was crossed, but is the 5th wave over yet? The wave count for wave "V" is not one of the simple ones :)
TimStuyts
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I think there is a reasonable chance that we are only moving higher for a wave 4 of wave 5 and need another low before we will see the major reversal. Not sure what you mean with 'The wave count for wave "V" is not one of the simple ones'.
sketchmaster
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Yeas, that´s what I was hoping for. By the wave V, not being the simple one, I only meant, that it is hard for me to decipher this last long wave down, of which the trend line was broken (red "V") in your chart.
Thank you for your answer.
HaiGo
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Could this be the reversal now? When do we know for sure? Thanks.
TimStuyts
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Matrik888
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hi, I opened long @10364 last Friday (clearly too soon). Closed long position after the break of 10300 (NZD too strong at the moment) but waiting for a pull back to 10190-10230 to go long again. I really like your detailed analysis though. Shame I missed your previous post.
TimStuyts
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You will more than make up for that once the reversal starts. Keep focused on this pair. At least that's what I do when I lose a trade, don't rush in another trade because it is easier to make up for a loss by trading the same pair then move to another pair all together. This off course depends on your strategy but when it comes to trading structure this is what I would advise.
ezodisy
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It seems to be coming to an end in my opinion, for a move up