NavelaKK

NavelaKK

Expecting a fake out, once price is back into the overall structure with a pull back we can sell back down. Still bearish, just the correction has been annoyingly slow!

NavelaKK Updated 

I do like the look of this! Channel is coming up to completion, lower time frame shows price is squeezing right now can we get the third touch of the channel! However, you can see 3 double tops near by, where price could fake out and come back into structure where we would then be waiting to sell this back down, or if feeling risky get in on the third touch of...

NavelaKK

Small channel, final move to downside. Can see it has faked out, but waiting for it to come back fully into structure followed by a pull back before entering shorts. Big trade, if we break the bottom channel, look at all that room to take this down!

NavelaKK Updated 

Could be the final leg of the correction channel completing, I believe it could go all the way back down and continue the downward trend. 4HR rsi showing overbought,

NavelaKK Updated 

Can see we have a channel, in which the first middle section has formed, therefore for this to complete it needs to reach back to the top of the channel, and as we have broken a prior high we are now coming back to retest before continuing higher. The outer larger channel is indicating a bullish run, TP1 is for reference but I plan to hold this for a while and...

NavelaKK

A break of correction will indicate strong chances of taking the sell back to the bottom. SL is slightly higher if you got in on the break, I can see this coming back up to test below the small zone around 61% fib which would give even greater R:R at 5% I will possibly watch how this plays looking for that pull back for a nice tight R:R Also notices a hns...

NavelaKK

Missed the entry from the top, expecting a pull back, back to the 38 fib but wouldlike it to reject higher in the zone of 50/61 fib for an even better R:R Will be keeping a close eye on if we manage that pull back, and ride it back down

NavelaKK Updated 

Can see we are close to the third touch of the major channel, and also price is really squeezing indicating a sell. Always potential for a fake out, but the squeeze is encouraging me to enter on the third touch of smaller channel, really would wait for the major channel but happy with wider SL just incase!, lets see what happens. Any thoughts?

NavelaKK Updated 

Channel has completed, expect sells. Can fake out before continuing down if so, will wait for it to come back into structure of the channel as a sell signal before riding it down. Not liking how price has currently moved but as the whole channel is corrective I am still bearish until a bullish pattern is formed.

NavelaKK

Chart may look confusing but you can see the shift in the channel heading upside, correlates well with DXY as I am bearish until any major change. I will be waiting patiently, would like it to reach a double bottom in blue and if correlate with DXY bulls all the way to channel and then even further up

NavelaKK

My thoughts on the DXY based purely on price action. We need the middle section on the larger channel to eventually complete, and as there is channel within the channel, this is on its last leg down. Views could change tomorrow if drastically spikes up but so far usd=sells! What are your guys thoughts?

NavelaKK Updated 

This is the longest trade I have ever been in! 2 weeks and still bearish with this. Can see their is an opportunity to re-enter to ride this potentially further down. Channel has formed, middle completed, arrows shows where it could go before dropping dramatically, better option of course is the third touch, could even fake out here as buy so may need to wait...

NavelaKK

We had a lovely return on the buy, can we now ride this back down! price is moving correctively, enter as you wish, :) could make the third touch could go slightly earlier

NavelaKK Updated 

Channel created, middle section complete with a bullish push back up, now a retracement that may hold near the 61% fib, with potential to go back up to at least the first Double Top but aiming for the high of channel where potential to ride back down,but will watch how price moves if we reach TP.

NavelaKK

2 ways you can take this, Reduced risk entry, so on the break of the small correction and trend line or if reaches back up to the start of the correction can enter here Enter as you wish, was not as clear but can see its possibly completed the Chanel and final stage of sell to ride back down

NavelaKK

Can see a correction has formed after the breakout of channel, it has rejected the 61% but I will be entering on reduced risk entry , Entry on the break of the trend line all the way towards the end of the trend line as the TP over 200 pips if we reach there.

NavelaKK

Can see the middle section getting formed of this channel, new low and retest so expect a sell all the way back down at some point. Should get a small pull back to enter:

NavelaKK Updated 

I ended up entering a little early yesterday (as seen on the chart) but the sell is still valid. It broke the corrective channel, was close to the Double top but slightly missed, came back into structure with new low, and can see it retraced to the golden fib 61% nearly 3 times. The above is exactly my thinking when I enter trades, hope this is useful, if agree...