Short NZSUSD, Swing, Elliot Wave

29 Haz 2017

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)

10 Tem 2017

Not

Trade still active. Looks like a H&S top. Break of 0.725 will have confirmation bearish bias for the above pair