(Daily) New impulse // Shark // How to get there // IF=THEN ® Short

New Zealand Dollar/Japanese YenFXCM

Description

⋅ Feb 14, 2016 2:53 AM

FX:NZDJPY

Potential ABCD pattern that can complete the weekly correction as a major ABC correction;

If so, I expect a bullish move ending around the weekly and monthly resistance @83.352$, forging an eventual Bearish Shark Pattern.

Taking the default ratios of a 5 waves impulse this is how it look. Just a guess.

For now, we have an ABCD pattern (cluster as target)

SHARK:
Point B:
61.8% XA
Point C:
113% to 161% AB
Point D:
161% to 224% BC
88.6% to 113% XC
Target:
38.2% to 100% CD

Safe Trades;

Comment

⋅ Mar 15, 2016 12:54 PM

Target the cluster

Comment

⋅ Dec 21, 2016 1:04 AM

Respecting Support and Resistance levels

Comments

aspmgobhozi

⋅ Feb 14, 2016 7:07 AM

Since you posted a buy for CADJPY won't NZDJPY be a buy also are they not correlated? Still a newbie so asking as much as I can.

Andre_Cardoso

⋅ Feb 14, 2016 2:42 PM

Each pair has its own structure, there is no such correlation between pairs. The dollar index makes things move, but only for news. Although it may seem that they are correlated, they are not ... :). Thanks for comment. And have a nice trading week, or learning week ;)