Besides the 3 Long Patterns (Cypher, Gartley, Butterfly) there are also Long entries via Patterns. A Gartley and a Bat could be in the making.
on the h4 timeframe, I can see a possible right shoulder being formed and I will be keen to reenter on the downtrend via the hns formation. on h1, I will be relying on my usual channel setup, and looking for it break. I am happy when i see h1 divergence appearing. So far I have been short, then long and now short. Perhaps I have been playing all legs of NZDJPY and...
Friday's price action rejected a key support/resistance level. I'd like to see an authoritative bearish bar on Monday to confirm the down move.
That is interesting. Two potential Patterns (Bear Bat and Bear Butterfly with the same entry Level) and a good risk reward for the risk-reward ratio I take the middle of both targets (= 50% retracement) to calculate it. Just my way of doing it...
NZDJPY is moving in a channel towards resistance at 97.00 handle in confluence with 0.764 FIB Ext at 96.45. NOTE: Last time it reached this level was in July 2007
LTF h1 bull flag broken at the bottom with macd divergence. I am using RSI instead as macd is not provided here.
macd divergence with a 1234 WR , and now bull flag completed.
there is macd divergence and a channel break if can break above yesterday high then will be good.
- d1 trendline resistance -d1 line chart resistance h1 f6 h1 small bear flag h1 macd divergence
NZDJPY after broken trend line and finished ABC waves . bullish now above 86.50 . target now 78.50 above 87.70 target will be 88.16 and 88.80 . break 86.50 target will be 85.80 --------------------------------- www.facebook.com freefx1.blogspot.com
Fine wine, a beautiful view of the ocean, sunny skies.......all of them are beautiful, but not quite as beautiful as a hammer off support. The only way this could be better is if price was above the 50 SMA, but at this point, the trend looks strong enough and the hammer is favorably positioned. I'm long at support at 86.30, where the hammer bounced off, with my...
Actually we see this nice simple structure and second time it spikes into previous structure support as you can see in the bigger picture. I am looking at lower timeframes to get an opportunity for a long trade with good risk-reward. The currency relation this week is 1.6 : 1 so that NZD can start to move up in thios area. Let's see :-) If it starts, take care of...
Today i noticed something, while this also is evident on the kiwi/dollar brother chart, to me this chart is where it's at. The reasoning is = "i will take that spinning top over a week looking pinbar, head was not good enough imo". While on this chart the usual suspects are present, decent risk:reward, previous area of price turning. For a TP i like the recent...
If PA hits previous lows for a test this bullish bat will be completed for a possible long.
The past few days I've shared my trades that the yen will continue declining in value, and that now was the time to short it. Specifically, I have trades on to go long AUDJPY and CADJPY, and a pending order to go long GBPJPY. And now, I'm adding a long NZDJPY trade to this as well. By now the setup is familiar: the pairs were all trending up, but have recently...
A near term top was called last week in NZDJPY but something bigger may be underway. The rate has seen its deepest penetration of 2 year trendline support. The line, when extended from the June 2012 top, exerted influence at tops. As such, the action at this trendline is a major development. Near term, there are characteristics that make the current situation...
NZD has been really strong lately but it's starting to show signs of fatigue. The assenting channel near structure gives me the indication we will likely see a break down. Not to say a news event won't blow things up but the chart reads weak.
NZDJPY currently @89.28 with some late week resistance shown yesterday and Thursday at the 89.40-50 level. Now we are inside this wedge and waiting for the break to take the correction to the 88.70 level. Trading the 60-min chart for our entries, we can see how we are inside a triangle and waiting for direction as well. Going into next week, be ready to take...