NZD.USD retracing per plan, approaching Targets: NU short TP's

NU is approaching supports that could end this retrace.
We had a classic EW Impulsive Wave (12345) appreciation.
Now in the requisite "Correcitve" Wave (ABC) retracement.

It is POSSIBLE that the retracement is complete, but not likely.
Look for VALIDATION of further downside upon break of support.
Best to CLOSE shorts if price bounces past immediate resistance.

Previous NU analysis:
0.624 Bottom Call
0.639 2nd Bounce


See some of my other Forex calls below.
I also plot Crypto and some Stocks, check my Profile Page.

NZD.USD bounce Call (massive profit, no drawdown)
AUD.USD trend Short (perfect short a year ago)
EUR.USD short call (still in play)
EUR.USD bounce plot (found last bottom)
EUR.USD trend Short (the very tip-top a year ago)
USD.CAD short call (perfect entry, huge profits)
DXY toping call (Upthrust warning just in time)
USD.JPY short to long (recent perfect entries)
XAU.USD short call (exact top pegged)
XAU.USD long call (perfect entry, huge profits)
Silver Bounce scalp (Perfect entry, still in play)
Copper Bounce call (Prefect entry, almost done)

Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

코멘트:

First target reached, EXACTLY

Zoomed in, we see a reaction at each of the three fib lines within this zone

But none of the three lines have offered much real energy. So I think we go lower yet.

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코멘트:

News about the US China trade war hit the stands and dollar took a dip accross the board, just in time to amplifier this NU support's ability to bounce it

Now to see if the "news" gets walked back like it so often does.

코멘트:

Came all the way back to last support

Zoomed in to observe the EXACT reaction to top bound of that zone

and the Top boundary of that zone is the green 2.236.

So that implies two things:
1) Pay attention to all other lines in that fib, and
2) That fib is pushing upwards, so that might help reverse it to go back up, or at least slow the drop.

코멘트:

Update on that zone from above:
It has now "stitched" that zone with a ping on both bounaries from the inside

So now a retrace to the top boundary and clean bounce would a good long entry

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코멘트:

And there she goes, as mentioned just above

retest the top boundary, got an exact Ping, and off it goes.
Of course it could collapse at any moment, but the long is not wtih SL at BE.
If bounce sustains, i will start looking for safe harbors to park the SL with partial profits locked in.

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코멘트:

Gettting back to bigger picture, we can assume the ABC correction is done

So now my

코멘트:

More consolidation today, but also more CONFIRMATION of the zones plotted

Zoomed in to show the "Confirmation" of these zones

Zoomed in even more, and a fib on the bounce

looks like a clean 12345 Impulsive wave up, and perhaps an ABC in progress.
Shown are two possibilities for the ABC to come.
IF correction is done, then this could be a wave (i) and (ii) with (iii) to come.
IF it shapes up as such, then this next leg up should be STRONG and FAST, but it is a Friday now, so might wait till next week.

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코멘트:

So much for the rocket launch above :(
We have just hit the next supporrt below original target

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