today i want to share a setup which is available at market right now. In this situation price si coming back to retest a daily structure zone (blue rectangle) after a double top formation that's been broken to the downside, as a confirmation signal of the direction it's headed.
You can short the market now according to the 2618 technique, with stops...
just want to inform you about what's on my radar this evening: this is a Cypher formation that's about to complete near to a daily structure level and a psychological number.
I think this could be a good idea to buy the market.
Stops below X, targets as usuale on pattern at .382 and .618 retracements of AD leg.
If you have any question, feel free to...
A few clues here adding to this case:
Price clearly respected;
And it showed it respect by showing a double top (A) followed by a 2618 (X).
To our protection we have structure zone + fib + trend line (Z), all combining.
I entered my first position after double top.
Second position after 2618
Its a bold target, but price gives...
I see a potential downtrend using the XABCD pattern.....there's a pattern going as well for instance, it's touched resistance 3 times and touched support 2 times..
Also looks like a bearish flag formation has occurred as well so you should hopefully see market break through the 1.68610 support line.
Gartley completing within a price range that has previously been showing both support and resistance many times. Together with the structure we also have a bearish trend line to back up as resistance.
Target 0.382 fibo of A-D leg.
Lets see if we get filled
NZD/USD has remained bullish after the bullish CPI data that I successfully predicted. Prices moved lower after testing this descending trendline to pull back to key support, and is now continuing its ABCD move higher to possibly retest this structure. There is some uncertainty surrounding the US dollar amid Trump's policies after he signed travel ban for several...
Waited patiently for NZDJPY to reach Resistance ~83.50
I thought it would reach it yesterday so I was LONG~82.8
Now good Risk-Reward-Ratio (RRR) on the Reversal SHORT.
Conservative Stop Losses to be put above the time-high at 83.75
And... see how this plays out!
after being correct in predicting the upward move on this pair (see attachment) we took our profit near 83.00. Now i changed my mind, just watching price action. I'll explain you why.
Basically we are testing a strong resistance zone, both in the daily and in the weekly, therefore we could expect some strong resistance here. In addition to that, we also...
this is a very basic concept of a structure trade. As you can see above on NZDJPY price just came out from a consolidation period and put new structure highs. At this moment i know my bias would be long; but i can't enter a trade long on the top of the movement, i should wait for price to give me a better entry in order to catch the upward move.
I was watching the PM's statement of the UK's 12 Step Plan. (Sounds like an AA meeting) for getting out of the EU completely.
The GBPNZD long was initiated as the NZD v's GBP is the strongest most over extended of all the pairs on the Daily currency strength meter that I use.
Going for a 1:3 as per usual.