Fxprotrader
Short

Project 1001 Pips NZDUSD Bearish Bat Completion

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
1717 30 51
Price has comleted a bearish bat pattern. Stoploss and profit targets as shown at the chart. If price reaches the first profit target we move stoploss at the second position.
Comment: A quick update for those who follow this trade. Price almost reached the stoploss but we are now in the profit zone with a quick drop. I expect a correction at some point before price begins a new sell off. If we see price rising in sideways (corrective structure) that will be a very good sign for our setup as we will soon have another impulsive to the down.

If you have any question feel free to ask..
Trade closed: stop reached: -53 pips
I think right now it's good point for entry sell
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mustard Guerrera
My take on this pair.

NZDJPY Potential Breakout
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Hi Sir, the pair just completed AB=CD formation. Bear should be crawling in now...
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An update would be much appreciated.
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Im getting a little anxious to enter this trade, but don't want to enter at the wrong time. Is this trade going through that "corrective structure" you mentioned earlier?
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Fxprotrader tmugleston
If you have a reason not to enter a trade, just don't enter.. many setups will come soon :) I will update if we have another sell setup with this market, and you may decide if you get involved. I hope that helps!
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tmugleston Fxprotrader
I don't have a reason ;) If anything, I really like this trade. Im just new to your chats, so I wanted to make sure I was understanding your entry correctly. Im familiar with Harmonic Patterns, and have traded them before... but not a pro.
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tmugleston Fxprotrader
I don't have one;) I actually like this setup. I saw that the market is trying to make a lower high, so I was getting a little excited to get in, but wasn't sure if I should wait a little longer. Im new to your chat, but familiar with harmonic patterns. I will wait for your update. Thanks!
+1 Reply
tmugleston tmugleston
Do PP's play a factor in your setups?
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Fxprotrader tmugleston
PP's?
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