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NZD/USD Outside Day as Price Reverses before Well-Defined .8350

NZD/USD Outside Day as Price Reverses before Well-Defined .8350

2013-10-01 22:32:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Outside Day as Price Reverses before Well-Defined .8350

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The 161.8% expansion of the 8/19-8/30 decline at .8436 has so far marked the top.

-The rally from .8216 is contained within a corrective channel and would consist of 2 equal legs at .8349. This is in line with the 61.8% retracement at .8351. Tuesday’s high was .8340.

Trading Strategy: Looking to get ‘stopped in’ a short position at .8210, stop .8310, target .7990

LEVELS: .8162 .8215 .8241 | .8350 .8376 .8435

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