Cut n Handle / Harmonic / Structure GN short seup

FX:GBPNZD   British Pound / New Zealand Dollar
394 8 12
WIth GBP news coming out tomorrow lets see how this setup plays out.

Good RR 2:1
Nice structure
Bat Pattern Completion
Cup n Handle Possibility
Looking for possible Retracement to structure before continuation of move up.
Trade closed manually: I had expected the news to help this move, but did not anticipate it would be over so quick.

Now that 50% of the move up has been retraced, it may consolidate a bit before resuming the overall bullish trend. And it is in this region until the 62% retracement of move up, we would look for setups to go long.
Comment: For the harmonica / advanced pattern traders. This is the BAT that i am looking at, The second targets would be the ideal entry point for long term longs (if PA reaches that level)

short still valid
uoevictory uoevictory
that was a great call Neel, congrats
Neel_K GcNaif
good one Neel , i like your SL , i m expecting 2.34-2.35 reversal , so i will join you in ur short somewhere in between those numbers
Neel_K GcNaif
It may surely Pop up before the final move down, as the down move has not been confirmed (yet)
For safer entries once could wait for RSI trend line break/MACD cross over confirmation/ PA setup/ AO reversal n other confirmations. Right now its just a possibility.
Neel_K Neel_K
Though the indicator confirmations may lag ! Best to use Price action and smaller Time frame setups.
GcNaif Neel_K
agree Good luck to u n me as well
+1 Reply
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