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...
Soooo, we have a DAILY setup (Bull 123, with a hidden divergence) with also a daily rejection at 200MA, with a 3bar rejection/morning star. the 4HR TF also formed a bullish setup - 123.
I took the lower TF entry - reg bull div, stops at 1.11203. Let see what happens
What we see here is a Bull 123, Hidden Divergence
PA potentially may find support at the 200MA, i can expect a few pin bars down to a previous demand zone at 1.10702/1.10518 and the ascending TL. We look for an entry on the lower TFs to get into this move.
Look like i'm The Bullington Today. Lol
PA may potentially form a Bullish Gartley Pattern. However I've identified two scenarios where action may be taken. For our Bull setup i've identified my reversal zone at about 0.70484/0.69796 confluence with (78.6/127.2) fib levels.
However price may go to break the top of our previous high, only then will i wait for price to reach a nice supply area, either at...
This is a Setup best known as a Bearish Advance Divergence Butterfly - (Bear ABD). With the daily TF showing a Bearish retrace rejection i took a short trade on the 4HR TF via a Regualr Bearish Divergence. Target 1 already hit and PA has now pulled back forming a potential retrace rejection and also was showed Bull Hidden Divergence. However PA is holding at the...