Study of Elliot Wave on NZDJPY, retracing to $76.2
Pattern
Obvserving Ascending Broadening Wedge. This will confirm when the candle bounce at the orange trend line
Elliot Wave 1-5 already completed and we are in Wave A. However it is not yet Wave B until we see a bullish candle close
Indicator
MACD - Hist < 0, looking for it to reverse between Wave A - B
Stoch - K & D is below 20, signs of a reverse is strong
RSI - below 40, sign of oversold already
Obvserving Ascending Broadening Wedge. This will confirm when the candle bounce at the orange trend line
Elliot Wave 1-5 already completed and we are in Wave A. However it is not yet Wave B until we see a bullish candle close
Indicator
MACD - Hist < 0, looking for it to reverse between Wave A - B
Stoch - K & D is below 20, signs of a reverse is strong
RSI - below 40, sign of oversold already