AUDNZD Long after retest of triangle resistance
First the price broke through the triangle, then it broke the newly formed trend-line.
In my opinion this is a beginning of an Elliott Wave formation. Let the price drop down to the triangle's former resistance, if it doesn't break through, it will bounce off for wave 3 which will be 300+ pips gain, then it will consolidate for wave 4, and then continue north.
I'm just an amateur, looking to see if this is a possible scenario. Every and all comments are welcome.
In my opinion this is a beginning of an Elliott Wave formation. Let the price drop down to the triangle's former resistance, if it doesn't break through, it will bounce off for wave 3 which will be 300+ pips gain, then it will consolidate for wave 4, and then continue north.
I'm just an amateur, looking to see if this is a possible scenario. Every and all comments are welcome.