I only posted once a EURNZD chart but I believe that this pair will give us some nice trading opportunities in the near future.
I'm looking for an ABC correction with wave C currently in progress. We are testing the low for what I counted to be the low for wave A. For the support/resistance traders; we either see a bounce (probably short lived) or a break, in either case this will result in a consolidation above or below the non-horizontal trend line. I will be looking for the end of the consolidation and use this support/resistance in my favor by trading the next move based on structure. In terms of wave count I expect this consolidation around the low for wave A to be a wave 4 of wave C.
Updates will follow.
www.timstuyts.com
www.facebook.com/timstuyts
www.youtube.com/watch?v=HvmWTm4f...
I'm looking for an ABC correction with wave C currently in progress. We are testing the low for what I counted to be the low for wave A. For the support/resistance traders; we either see a bounce (probably short lived) or a break, in either case this will result in a consolidation above or below the non-horizontal trend line. I will be looking for the end of the consolidation and use this support/resistance in my favor by trading the next move based on structure. In terms of wave count I expect this consolidation around the low for wave A to be a wave 4 of wave C.
Updates will follow.
www.timstuyts.com
www.facebook.com/timstuyts
www.youtube.com/watch?v=HvmWTm4f...
