Here wave 4 has completed and we are looking to enter SHORT for the wave 5
We see a nice wedge breakout that confirms a sell
We will enter at the 50% or 61.8% of the first move of the wave 5
A bat pattern that confirms the sell and the completion of wave 4
divergence at the completion of wave 4 and at the completion of the bat pattern that confirms the sell
this is should look like our entry
entry : 0.72573
tp1 : 0.72320
tp2 : 0.71959
tp3 : 0.71621
a risk reward of 3/1 on tp 2 and +- 5/1 on tp3
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i'm happy to answer any question !
Note
our entry has changed to 0.72538Note
we didn't enter because we didn't see a rejection of the fibo line i will look for another place to enter nzdusdNote
price is currently rejecting the 50% of the bigger trend if i see an inverted hammer or a candle signal i will wait until the next candle breaks the low of the signal candle then enterNote
we won't be looking for an entry anymore because i didn't hesitate on the fib % no trade was taken here
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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.