EURNZD had formed a double bottom and retraced 61.8% to give us an entry for a bullish 2618 trade. At the 127% extension where profit is commonly taken, 3 bearish harmonic patterns may present themselves within a tight PRZ. On the higher TF, a larger bullish shark is emerging.
Trade 1: Bullish 2618:
Trade 2: Bearish Bat + Butterfly + Gartley
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Trade 1: Bullish 2618:
- Entry at the 61.8% retracement level
- SL is placed below the double bottom
- Target is taken at the 127.2% extension
Trade 2: Bearish Bat + Butterfly + Gartley
- Entry in the center of the PRZ
- TP at .618CD (or move to B/E at this level and let the trade run toward the bullish shark completion)
- SL outside of 113% XA
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Trade active
Trade closed manually:
Bullish 2618 trade closed manually due to bearish engulfing candle formation produced on 1H chart.
+29 pips
+29 pips
Comment:
Note: Trade #2 Sell limit still valid if price should reach entry
Order cancelled:
Second order cancelled. +29 pips total