Aud/Nzd setup

4 במאי 2021

On 1 hour timeframe Audnzd recently broke the descending channel and currently in a Subminuette-v within Minuette-i. I'll be looking for slight correction, maybe near 50% fibo level to complete Minuette-ii. Then I'll be waiting for a convincing impulse back up. Since it is Minuette-iii, I like to keep my target near 1.618 extension which is also a daily resistance, 1.0940. If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. If there's any ambiguity then I will not place this trade.