2 PATTERNS AT PLAY HERE. RED AND BLUE SEE WHICH ONE WORKS OUT. IM MORE FOR ENTERING LONG @ 93.00 (161.8%) TO 94.00 (127.2%) DEPENDING ON PRICE ACTION (BLUE PATTERN).
THE PATTERN IN RED IS FOR SMALLER TIMEFRAME AND LESSER PROBABILITY OF HAPPENING. I AM NOT GOING FOR THAT.
THUMBS UP IF YOU WISH TO RECEIVE UPDATES ON THIS PAIR.
TIMEFRAME FOR TRADING THIS IS D1 AND PROBABLY 2-4 DAYS BEFORE HAPPENING.
H4
Comments
Alexander_Nikitin
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Hey, mate. I'm trading bats consistently for along time. they are very effective if you know the tips. See my thoughts about bats.
PriceActionTrading
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Nice charts alexander, but i do not trade M5 sadly.
deeme007
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Lets see which one will goes on "Red" or "Blue"
PriceActionTrading
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Well said.
PriceActionTrading
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Red one seems to be playing out. rejected at a nice 78.6%. I am looking for 88.6% price action before entering any trade for this pair. Anyways im short EURNZD GBPJPY and long AUDUSD. No rush to open more.
One could enter long and place stop below 100% if they deem 78.6% rejection as part of their trading plan.