CANCELLED. Update: Market moved as forecasted without triggering the orders. ___________________________ The prices followed my previous forecast. I am placing long position in this particular level to fulfill my expectations & rules of engagement.
CANCELLED. Update: the entry was too conservative and the market did not play in favor. ______________________________ I look at the chart and think: WHY NOT?
This is a pretty idealistic scenario, but this is what I should expect if my overall analysis is right.
Building up a case for long position.
Forecasting a possible short position after ZigZag correction.
A great area of consolidation between $1.07 & $1.14.
Due to massive zigzags, the strategy of a small stop loss trade seems convinient. I am not following the economic news of EUR/CAD. If this analysis is a killer, the trade can be performed with 2 units: 1º unit has a well defined target at reasonable price zone. 2º unit would serve as 'let the winner run', with a break-even position and possible target. The...
If price action will push till 1.1410 then bat pattern completion. Notice the nice 1.618 extension of the B-leg T1 @ .382 and T2 @ .618
After a NSH at 95.28 a possible BAT pattern appears. Ratio confluence turning the blue area into PRZ. T1 @ 0.382 and T2 @ 0.618. SL must be above X
This could be an opportunity to short right at the ceiling of the channel, quite near a weekly resistance.
I don't know where we are going with this. If we go up a Gartley will complete around 93.84. T1 @ 0.382 and T2 @ 0.618. If we go down a BAT will complete around 90.72. T1 @ 0.382 and T2 @ 0.618. Perhaps the SL on the BAT should be lower as a result of point A of the possible Gartley. And of course it is possible that first the Bat and the Gartley will complete.
Following the price-action at resistance. Shorting at the end of the current candle if it turns to be a pin-bar.
Bearish Cypher Entry - 179.403 Stop - 180.370 Target 1 - 178.053 Target 2 - 177.216
A Gartley pattern is potentially setting up on the EURNZD 4h chart. If it completes around 1.5850 it will have reached a previous structure level (see the red dotted line) where support might now turn into resistance and price can bounce off and rally. 2 potential targets, 0.382 and 0.618 retracements of the AD movement are at structure as well. I might have a...