Waiting for a sell signal on the 1m and 5m time frame for EURNZD.
There is an alternate bat pattern completing in the sell zone as well.
There was a strong up move (purple) which triggered a lot of people to go long.
I believe the banks want to go short. The blue line is the start of that up move they made, so I'm looking for them to close out those longs before they begin to go short.
I also like the idea that we have a double bottom forming which might get people to go long again...(as we sell)
I'd like for the entry to happen just after the NY opening bell, 8am-8:30am
As this could be a false breakout, then they might reverse it with 15 minutes left to the hour.
I'm not too fond of the structure, and how things look, but it follows my rules so I am entering.
Take profit - next level of bullish volume AND my aggressive target will be that greyish blue line on the bottom. There are equal lows there where people might have pending orders the market makers want to target.
Confirmations: Reverse Crab, Alt Bat, Liquidity Spike, Bearish Point of Control, Bearish 5-0 (all completing within 5 pips of each other)
-GP3
There is an alternate bat pattern completing in the sell zone as well.
There was a strong up move (purple) which triggered a lot of people to go long.
I believe the banks want to go short. The blue line is the start of that up move they made, so I'm looking for them to close out those longs before they begin to go short.
I also like the idea that we have a double bottom forming which might get people to go long again...(as we sell)
I'd like for the entry to happen just after the NY opening bell, 8am-8:30am
As this could be a false breakout, then they might reverse it with 15 minutes left to the hour.
I'm not too fond of the structure, and how things look, but it follows my rules so I am entering.
Take profit - next level of bullish volume AND my aggressive target will be that greyish blue line on the bottom. There are equal lows there where people might have pending orders the market makers want to target.
Confirmations: Reverse Crab, Alt Bat, Liquidity Spike, Bearish Point of Control, Bearish 5-0 (all completing within 5 pips of each other)
-GP3
Note
IF THIS TRADE LOSES, IT SHOULD HAPPEN QUICK AND GET ABSOLUTELY DESTROYEDNote
It got triggered at 7am..not a big fan of that, 8am would have been better, that means the buy orders are eating up sells a little to quick for my liking, already had the order set. just gonna hold.
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.