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.
thank you.
you are welcome)
Alex, check out CADJPY, might be an interesting one.
looks like this
IvanLabrie Alexander_Nikitin
Try larger timeframes...4h/daily/weekly.
IvanLabrie IvanLabrie
1h is too local for me.
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))
Nice catch Alexander! You seem to having a lot of success with these trend based patterns :)
Alexander_Nikitin Omnishambles
it's called professionalism)
+1 Reply
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