entry on continuation down. Primarily looking at super guppy in changeover state of grey. TSIs and RSI, RVI, and 10/5 all painting bearish. Also put entry 36 pips above market entry. ATR 74 for SL/TP.
NZD looking ready to switch fate into a bearish market with CHF strengthening. Potential Short on NZDCHF which is currently trending near trendline structure (3rd tap) and below fib level.
On the H4 chart of NZDCHF, it seems that the price is starting the 5th Elliott wave down after completing the 4th wave.
NZDCHF Pretty sure of this one plenty of room below on the daily as well We'll see i spose
Break & retest of zone / EMA, EMA's Down, 15 Minute Double Top
Expecting the pair to push down all the way and retest the 0.6800 psychological level which also coincides with the 78.6% retracement of the previous impulse (see updates section) It's giving a nice triangle correction, and triangle corrections tend to precede the final actionary wave so this would make perfect sense as we're setting up for wave no.5 even though...
NZDCHF looks like short. If it breaks trendline, wait for flag for confirmation then sell. Lets wait and see!!!
NZDCHF broke the moving average, suggesting a potential trend change. This in tandem with October's monthly bear candle gives me enough reason to believe a down trend is about to begin. My orders are placed at fibonacci retracement levels 1.0, 78.6, 61.8, 50.0, 38.2, 23.6. and 0.0. Each order contains a 30 pip stop loss and no take profit target. These...
Currently in a corrective structure, just waiting for the next impulse to the downside.
Looking at the NZDCHF, it appears the pair have now completed a A.B.C Pattern, and is now ready to head lower.
Shorting this pair to the recent lows. Might move my stop loss to the 1.272 extension of the XA leg.