NZDJPY, 1h, potential patterns - Gartley and Bat
Duplicate patterns are in progress in NZDJPY 1h timeframe.
Looking at 4h timeframe, we see that we have a slight upward trend, although daily shows something else.
So little caution and possibly even further confirmation may be desirable.
The Gartley pattern is the first to be complete and therefore traded upon given confirmations after tested PRZ.
Should the Gartley pattern "fail" and price continues to decline, we'll look at the Bat pattern in the same way.
We see quite strong movements back and forth generally so that a Fib. retracement 38.2% could be reached on respectively
patterns are not at all unreasonable.
Awaiting test of PRZ for further decisions.
Looking at 4h timeframe, we see that we have a slight upward trend, although daily shows something else.
So little caution and possibly even further confirmation may be desirable.
The Gartley pattern is the first to be complete and therefore traded upon given confirmations after tested PRZ.
Should the Gartley pattern "fail" and price continues to decline, we'll look at the Bat pattern in the same way.
We see quite strong movements back and forth generally so that a Fib. retracement 38.2% could be reached on respectively
patterns are not at all unreasonable.
Awaiting test of PRZ for further decisions.
Henrik Siverhall
SMC Trading
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SMC Trading
Är du intresserad av vårt mentorskap - "Basic" och "Avancerad" mentoring.
smctrading.se
Sveriges största FB grupp för nybörjare
bit.ly/ptse-fb-basic
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