NZDCAD: VALID SYMMETRICAL TRIANGLE COMPLETED ON 4 HR !!!
Hello Traders,
Here we have a VALID SYMMETRICAL TRIANGLE on
NZDUSD
, which was completed and tested earlier and now we are able to short this pattern with good risk to reward. I have labelled 3 potential targets for this pattern, one is at the completion of the ABCD pattern, the second is at the 127.2% fib extension of AB leg and the last target is the measured move of AB leg which is approximately 202 pips. If we can get a DAILY close below the 0.8300, a key psychological round number, then that would give us extra confidence for staying in this setup and shooting potentially for all 3 targets. Stops for all 3 positions have been placed above the 0.8400 level, a key psychological round number.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Here we have a VALID SYMMETRICAL TRIANGLE on
NZDUSD
, which was completed and tested earlier and now we are able to short this pattern with good risk to reward. I have labelled 3 potential targets for this pattern, one is at the completion of the ABCD pattern, the second is at the 127.2% fib extension of AB leg and the last target is the measured move of AB leg which is approximately 202 pips. If we can get a DAILY close below the 0.8300, a key psychological round number, then that would give us extra confidence for staying in this setup and shooting potentially for all 3 targets. Stops for all 3 positions have been placed above the 0.8400 level, a key psychological round number. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)