PriceActionTrading
Short

EURNZD PATTERN COMPLETION D1

FX:EURNZD   Euro Fx/New Zealand Dollar
166 7 8
CURRENTLY AT PATTERN COMPLETION.
127.2% OF AB LEG
161.8% OF THE PREVIOUS BULLISH LEG.
PRICE FAILED TO CLOSE ABOVE THIS 161.8% FOR 3 DAYS STRAIGHT.
RSI D1 READING AT 77.68 WHILE RSI H4 HAS SHOWN BEARISH DIVERGENCE FOR A WHILE NOW.
RATIOS CHECKED OUT FINE.

ONE COULD SELL NOW WITH 100 PIPS SL AS A SAFETY MARGIN IN CASE PRICE DECIDES TO FALSE BREAK THE 161.8%.
TARGET WILL BE 1.5410 (38.2%)
PERSONALLY I HAVE PLACED A SELL ORDER @ 1.6200 +/- 10 PIPS.
1.6200 IS A KEY RESISTANCE FROM YEAR 2014.

I AM HOPING FOR THE NEWS EVENT LATER TO REALISE THIS IDEA SETUP. NEWS HAVE, OCASSIONALLY, AN EFFECT OF REALISING ONE'S SETUP, WHETHER OR NOT THE NEWS IS POSITIVE OR NEGATIVE.
Wassup mate? Still hold short E/N or you were out ?
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Stopped out at BE mate. Bad luck, reversal not due yet i guess.
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Most markets are at consolidation right now. All be caution when trading. GBP has been rising although with presence of bearish divergences. I will stay out until clear signal is given. Right now looking at sell A/N.
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UPDATE: ALREADY 150 PIPS IN. NICE H4 PIN BAR SHOWING REJECTION OF 1.6200. MORE DOWNSIDE TO COME AFTER 1.6000 IS BROKEN. THIS IS ONLY THE START OF A 300 - 400 PIPS DOWN MOVE I WOULD SAY.
snapshot
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So good so far mate. A beautiful pin bar on 4H.
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Yes that pin bar was exactly @ the 161.8%. Thanks Andyle. I have long N/U too just so you know. Short A/N is a question though. Haven been seeing that pair lately, or any viable setup. I will see what i can find with AN
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Nice. Let's see how it work. But first it has to breakdown the channel on 4H. I'm waitng to long N/U and short A/N also
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