NZDUSD wave 2 completion

9 nov 2015

with my elliot wave analysis, shows that the nzdusd price was completed its wave 2 in higher degree.
the price are completed its 3 wave correction movement on the smaller deggree of wave.

there are support and resistance area at the lefthand side of the chart which shows that the price will make a reversal on the support and resistancearea. if the price can go break through the support area, the, the nzdusd will going lower.

for this chart, it is better to wait for the candle to completethe movement at the area of 0.6620.if the candle complete its wave, wait for the candle rebounce to put entry for the big wave 3.

there are also divergence on the stochastic oscillator of the wave correction.if the price fail to find its lower low.and yet its find the new high.the price will change it direction of trend.and ready to put entry on the rebounce.

the area to put entry is 0.6590. wait after the price rebounce and its finding it new high

good luck!!! happy forex trading!!.

this forex trading idea was published for the purpose of study only. all the risk taking are at your own responsibility.


A forex trader who enjoy doing forex naked chart and make profit with forex expert advisor.Also enjoy to socialize with other forex trader in the world.