NZDUSD Corrective Drop Before Bullish Reversal SetupNZD/USDOANDA:NZDUSDBitcoinprofitableOn the NZDUSD 30-minute chart, the Elliott Wave structure shows a completed bearish impulse labeled (i) through (v), forming a strong downside move. The decline appears to be wave (v) of a larger corrective structure, likely completing a zigzag or WXY pattern. After the sharp sell-off, price begins to stabilize, suggesting exhaustion of sellers near the demand zone around 0.5890–0.5880. This area acts as a potential reversal zone where a new bullish cycle could begin. Following Elliott Wave principles, once a five-wave impulse completes, the market typically retraces in an ABC corrective move or even starts a new trend. In this case, the projected move indicates a bullish recovery targeting previous resistance levels near 0.5980–0.5990. The drawn arrow suggests a strong upside continuation after a short consolidation or minor pullback. Entry Point: Look for buy confirmation near 0.5890–0.5900 after bullish candlestick patterns (engulfing or pin bar). Conservative traders can wait for a break above minor structure around 0.5920. Stop Loss: Place below 0.5860 to protect against further downside continuation. Take Profit: Target 0.5970–0.5990 as the primary resistance zone. This setup aligns with trend reversal strategy, combining Elliott Wave completion with support-demand reaction for higher probability entry.