In our last NZDUSD, we identified that we almost completed Wave 1 impulse and we were awaiting the wave 2 ABC correction.
We are now in the correction and we've seen both A and B. We are now in C and we can capitalise on this move before we go LONG.
Trade Idea:
- Watch for a break of the red trendline
- Enter with stops above the highs
- Target: 0.62 (250pips)
Please note that wave C can extend so once we're at 0.62, hold and see if we break that level. Ideally we get 5 clear waves to the downside. If we do, hold trade until we're on the 5th wave and taper positions off there.
Goodluck and as always, trade safe!
We are now in the correction and we've seen both A and B. We are now in C and we can capitalise on this move before we go LONG.
Trade Idea:
- Watch for a break of the red trendline
- Enter with stops above the highs
- Target: 0.62 (250pips)
Please note that wave C can extend so once we're at 0.62, hold and see if we break that level. Ideally we get 5 clear waves to the downside. If we do, hold trade until we're on the 5th wave and taper positions off there.
Goodluck and as always, trade safe!
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