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.
Andyle
a year ago
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
+1 Reply
Andyle
a year ago
So good so far mate. A beautiful pin bar on 4H.
+1 Reply
PriceActionTrading Andyle
a year ago
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
+1 Reply
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
+1 Reply
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.
Reply
Andyle
a year ago
Wassup mate? Still hold short E/N or you were out ?
Reply
PriceActionTrading Andyle
a year ago
Stopped out at BE mate. Bad luck, reversal not due yet i guess.
Reply
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