Hey guys i hope you all took the eurjpy sell
Now i have another pending order but price NEEDS to correct and form a flag before we put that order in. If price just falls without the correction i would be least interested
Thanks for the support
xoxo
Strong downtrend since the start of 2017, making lower highs. Price is locked into a strong downward channel based on the 4H chart
Hidden divergence on the close of the 4H candle at 18:00 on 31st May shows the strong continuation of downward momentum.
We see a possible Bearish Head & Shoulders pattern forming on the 4H chart.
Fundamentals:
The RBNZ...
I need some comments guys...
The channel is clearly rejected and created a flag on the 4H to move further lower.
From the other hand, the Cypher pattern looks decent and increasing the chance to move higher up to point D.
How do you see this?
Rationale for this trade is easy: a descending channel. The Swiss Franc came in strong yesterday being the best contender against USD and also fought against Euro despite its rally.
I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal.
It requires...
NZD could surprise many. This pair can gain serious momentum near term to retest 0.99 level. Thereafter the 1.00 target is not going to be difficult. NZDUSD is also could make a similar strong up move.
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Trade outlook is about 10-30...
I expect another push up at least until bearish divergence forms against.
The entry idea is on the M15 chart where we are seeing a flat correction.
Any visit of the lower bands of this patterns, preferably with bullish divergence to form is an opportunity to buy.
If we see a breakout above the most recent high and the up trend line, we can also go for...
We are going long at this 30M structure to continue the 3HR trend. We are looking for a 3:1 Reward:Risk.
*NOTE* Any "blue" trade is for testing purposes only and will not be executed on my live account until proven to make money over a long period of time.
After breaking the upper range earlier today NZDCHF is now also breaking the 14 EMA, besides that the Stoch RSI also shows strong buying pressure and the ADX made a strong bullish crossover. This all together makes it very likely the NZDCHF will head to atleast the 72 EMA and possibly break it.
Buy: around 0,6770
TP: 0,6820 > 0.6890
SL: 0.6720
Hello everyone heres another sell setup. Price has already broken out of the structure and formed an expanding wedge which can be seen clearly on the 4 hour time frame. Two possibilities for our targets both are described on the chart. Also Looking to sell a continuation pattern after the breakout of the expanding wedge . Remember guys, no breakout = no setup
