Alexander_Nikitin
Short

NZDJPY: INSTALLATION OF A NEW TREND.

FX:NZDJPY   New Zealand Dollar/Japanese Yen
Hey, traders. We had a series of impulses in one direction forming the structure of NSH's and HL's. This is called trend. A trend is active untill we have a sign of reversal. In other words until priceaction breaks the structures. As you see on the chart above priceaction instead of making a HL made a NSL thus signaling us about the end of the uprend. I expect further movement to the south. I'm going to use this gartley as an entry technique. As usual for harmonic patterns stops need to be above X. My target her is about 1,272 XA extention (it is the same 1,272 if you invert fibs from A to X when using fib line tool)
Trade active: Hey, traders. Priceaction reached our entry-point so the sell was triggered. Right now we are slightly negative. Let's see if this trade turns a winner or loser)
Comment: technically the pattern was invalidated by priceaction hitting X-point. But I'm still in because my stops were not triggered.
Comment: Pattern traders, those of you who take the first target at 0,382AD - chaching. Priceaction already hit this level.
Trade closed: target reached: Hey, traders. priceaction hit my initial target level, which is A-point retest. I closed half here and breakevened the other half. Now enjoy the risk free trade.
Trade closed: target reached: Hey, traders. cha-ching. Both targets were hit. this trade gave us some pain first. Some quited it. But we were patient and followed our rules no matter what. So the discipline was rewarded. Congratulations to all of you who participated in this trade.
hey,
where could we place the SL above X ? 81.900
Reply
Hello, it up to your rules. Youmay place it 10 pips above X. You may place it 1.13XA extention. Or you may place it 1 atr above X. The min requirement is 1 spread above X. You are to keep in mind what should the chart look like for you to say that the trade is no longer valid.
Reply
Fieldgate Hiisham
and bare in mind, that JPY pairs 'like' round numbers, so you may want to put above the 8200, then build the position if/when price action reverses in the direction you expect and you have confirmation
Reply
I, personally, don't place stops based on round numbers. I prefer to consistently follow my rules that were tested and verified. If there's a round number nearby it's not "good" for me to enlarge stop. But if my stop being placed according to my rules accidentally goes beyond round number - then it defenitely better))
Reply
Fieldgate Alexander_Nikitin
absolutely !!
Reply
thank you
Reply
he already touch the X Point an make a reversal bar ,he will fall in to 80,500 ?
what do you think ?
Reply
I'm in till it hits 1.13 XA)
I don't know if it is going to fall in to 80,500)
Reply
so what price did You enter in this one? My chart shows that it has already passed the X point so I wonder would be still OK to enter short? Thanks
Reply
Technically the pattern is invalid when X-point is hit. So if you didn't enter then don't do it.
Reply
I got ouf of my nzdjpy short. NZD looks too strong.
Reply
Sometimes it seems like the trade won't work, but we are to stay patient and wait until it either hits the stop or profit. this is called discipline)
Reply
Hiisham Alexander_Nikitin
Yeh,u right, i was so so close,to CLOSE it,bu in a few seconds he fall :)
Reply
Fieldgate Alexander_Nikitin
beautiful fundamental response corroborating a technical set-up.
Reply
Nice catch Alexander! You seem to having a lot of success with these trend based patterns :)
Reply
Alexander_Nikitin Omnishambles
it's called professionalism)
+1 Reply
I think we should name Alexander as 'BATMAN' LOL!!! All in favour say aye!! :))
+1 Reply
Alexander_Nikitin Captain_Walker
you are not the first to suggest it)). batman, batmaster, master of bats, batgod these are few names people name me))
Reply
Alex, check out CADJPY, might be an interesting one.
Reply
looks like this
snapshot
Reply
IvanLabrie PRO Alexander_Nikitin
Try larger timeframes...4h/daily/weekly.
Reply
IvanLabrie PRO IvanLabrie
1h is too local for me.
Reply
thank you.
Reply
you are welcome)
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out