Potential LONG on the KIWI with 2 pattern completion
Hey guys we got a long opportunity here on the KIWI.
Two patterns is already completed as market right now is inside in a descending expanding wedge. There are two types on how we can trade this market.
The first type of trade is we could go and take our entry LONG at the pattern completion. This is what i call the aggressive trades. And technically on these patterns. Our stops would be below our x point or atleast give us a good 1:1 RR (Entry to TP1=Entry to SL).
The second type is what I called the conservative. So for the conservative we could go and wait for a BO on the basic pattern which is our descending expanding wedge to enter LONG. Stops could be below our x point still or the lowest price given by that market on the wedge.
Take care and enjoy!
Two patterns is already completed as market right now is inside in a descending expanding wedge. There are two types on how we can trade this market.
The first type of trade is we could go and take our entry LONG at the pattern completion. This is what i call the aggressive trades. And technically on these patterns. Our stops would be below our x point or atleast give us a good 1:1 RR (Entry to TP1=Entry to SL).
The second type is what I called the conservative. So for the conservative we could go and wait for a BO on the basic pattern which is our descending expanding wedge to enter LONG. Stops could be below our x point still or the lowest price given by that market on the wedge.
Take care and enjoy!
Comment:
Take note of the Breakout.
Comment:
If you have taken the Bull Shark Pattern. TP 1 is already attained.
Comment:
Hello guys. take note on next week market. We would like to put our stop to BE.
TP1: 0.7256 (75 pips)
TP2: 0.7301 (121 pips)
Bull Shark Pattern Completion (88.60%): 0.7157. Stops below X point or a 1:1 RR (prior to TP1)
TP1: 0.7240 (82 pips)
TP2: 0.7292 (134 pips)