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AUDNZD Short Elliott Wave Technical Analysis

by Sanjay A, June 4, 2021

AUD/NZD D1 Elliott Wave

by Sanjay June 4, 2021

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AUD/NZD

|

Short

|

D1

Timeframe:

D1

Analysis Method:

Elliott Wave

Analysis:

See below

Trade Plan:

I sold the pair based on the wave pattern. Entry was at 1.0731 which lined up with the confluence of daily resistance, the extension of the lower triangle trendline and the 61.8% fib retracement of wave (a). The target is 1.0570 which is the confluence of two fib extensions: Y vs W and (c) vs (a).

Risk Management:

Stop is at 1.0777 which is just above the 78.6% retracement of wave (a).

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The trading ideas, analysis, and comments above should not be considered financial advice or recommendation to trade or invest in any financial product. Your personal situation has not been taken into consideration in the trade ideas. This page is for general educational purposes only. Do not buy or sell any product discusses on this page before doing your own research. Always do your own analysis and research and be aware of the risks involved in trading any financial product.

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