Wednesday, January 6, 2010

GBP NZD - Potential Long Opportunity



I was looking at GBP NZD and there could be a really good long opportunity for this pair. I have attached two charts: Delta and Elliot Wave.

In the Delta MTD chart, I am not labelling the count, but you can see that medium term Delta point has always been due near the yellow vertical line. We are now just right there at the yellow vertical line, telling us a Medium Term Delta (in the current situation it's Medium Term Delta low) has arrived / is going to arrive very soon.

In the EW chart, we can see a five waves up, and three waves down. It's yet to be seen whether wave C has completed, but combining this with Delta tells us wave C should soon / already complete.
 

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