GBPNZD continuation pattern?
Updated
I see GBPNZD to have made the 5 wave elliott structure.
It appears to be making an ABCDE flag pattern (correct me if I am wrong or you see different).
I am not fully convinced that the E wave has finished and it may continue down for a short period of time to create a 'throw-over' before resuming the upwards trend.
I would wait for consolidation just below/just above the top trendline for the flag to confirm the trend is resuming.
The arrow finishes at the 23.6% extension and it could continue well past there.
Any advice or feeback is appreciated.
Thanks.
It appears to be making an ABCDE flag pattern (correct me if I am wrong or you see different).
I am not fully convinced that the E wave has finished and it may continue down for a short period of time to create a 'throw-over' before resuming the upwards trend.
I would wait for consolidation just below/just above the top trendline for the flag to confirm the trend is resuming.
The arrow finishes at the 23.6% extension and it could continue well past there.
Any advice or feeback is appreciated.
Thanks.
Note
E appears to have formed. Still upside.
Note
Unfortunately I have been away from the charts for a short while, and this pattern has now become more complex or the count was incorrect.
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