FullTimeTrader

AUDNZD-could start the long term rally soon

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FX_IDC:AUDNZD   Dólar Australiano/Dólar Neo-Zelandês
17
Right now this is one of my favorite pairs because its following the expected price action according my trading system. This is not a ready entry, just an overall analysis warning that the long awaited rally could start soon.

I expected a pullback when the price was strongly rallying:

And warned about entering long too early for the expected huge long term rally.

When doing an analysis i try to take the best information a tool can give me, not limiting to only one.
Here i'm using a combination of bollinger bands, ema 55 and ema 200, classical technical analysis and elliott waves.

The most important information here comes from bollinger bands. Looking at W1 chart we see a that BAND TO BAND duplication ocurred before pullback. After that price should retrace at least to the middle MA.
We have also a previous level of S/R and the EMA 55 acting as support.


Here on D1 chart:

- EW WXYZ corrective structure
- corrective channel
- bull flag (see below)
- EMA 200 acting as support
- expected harmonic AB=CD pattern
- AO is finishing an ideal bullish divergence

I will watch the PA closely near the area shown on chart and update for possible long setups.

Regards

P.D. nice potential bull flag forming with a BIG potential target


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