This pair resembles a trend shown recently on $AUDJPY. Closing out Wave 3 inside a channel then a sharp decline into wave 4.
Price formed a double bottom, indicating bullish momentum. Wave theory indicates that we are at the bottom of a wave 5, which is one the best entries one can ask for. Good luck!
A lot of bullish momentum against the Dollar. Strong Wave 5-1 signals a bullish Wave 5 all-together. Expecting minor pullbacks on the way up.
Initially anticipating a deeper retracement, last week's Wave 4 was exceptionally short. Combined with the extremely bullish and extended Wave 3, Wave 5 has a good foundation for a strong bullish continuation- possibly an extended one.
Price shot well before the first 4H level of support. Riding down to the next.
Simple correction of the bullish movement. Could retrace to the .618 line, but in the names of risk management and profit preservation, we'll target the 50 yard line.
We've entered Wave 5 of this run. It may or may not hit the extended Wave 5, so be mindful of the second long position.
Ok folks, this has been a bit of a tricky Wave 3 pattern but I think we've got it figured out. We're in the Corrective Phase of Wave 3, identified as Wave 4 Sub C. Wave 4 is comprised of an A-B-C pattern- that's where the "C" in "4 Sub C" is derived from.
EURUSD 4H Wave C has finally taken shape. We've reached, what I consider to be, a major ChoCh at a support level that must be corrected. These correction typically reach a .618 fib of the established High and Low.
AUDNZD seems to be playing its silly little games, but don't be fooled. You can reference EURUSD's recent pattern to see how this one will also play out. We're in this final stages of Wave 3, or what I call Wave 3 Sub 4. Follow the channel until it breaks and buy up. Good Luck! image]https://www.tradingview.com/x/1cz5n2KN/
This pair is nearing the end of its major wave B pullback- but it’s not quite ready. Don’t be tricked by the short term bear drive to the trend line. It’ll surely hop back on the bull to run a “flat correction” before coming down just past the close of the current 4H low.