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...
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.
Here we have a bearish Gartley on the NZD/yen. Price is approaching a trend line parallel to the top leg of a channel from the daily chart. Looking to take a short position with a reversal around the 75.3 price mark. Retracement levels are ideal for this pattern- the C point is below the close of price but still on the wick. As long as price remains on the wick...
What we have here is a SHORT position on NZDJPY (1HR Timeframe)
1HR Setup was preceded with a Reg Bear Divergence
PA showed a rejection of the 88.6 level, confluenced with a supply zone at 75.975
Missed WEEKLY and MONTHLY pivots at 75.03 and 74.0897
In the context of the Higher Timeframe:
WEEKLY PA had been making new lows, however we have a Bullish...