@BjornPfaff, why are people so obsessed with being right? That is not trading.
raveal
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it's going up
pmifsud
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I do not really fancy that inverted H & S. Left shoulder is larger than the head!!!! Show me one RSI chart on any time frame which is showing bullish divergence. All i see are stochastics in the sell zone and an overbought price situation on all time intervals and EMA 10/ 20 far below price action. The limit of my trendline still unbroken at 0.73122, so for me still means a downtrend.
thegeorgeand
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@pmifsud, ahahha sad to see people waste their time and effort trading forex only by indicators and disregarding price entirely. Listen brother, you trade the price not the indicator so before its to late go check some courses on price trading instead of indicators.
thegeorgeand
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@pmifsud, you got NEW FUCKING HIGHS on the chart and HIGHER FUCKING LOWS and u still talk about indicators. Just WTF.
chinchinmayua1
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@tntsunrise , sir beside bat pattern completed but there is also an inverted H&S with broken trendline and channel breakout at 4H .
Your feedback will be highly appreciated
Thanks
mazin88
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Good ideas i like your ideas
pmifsud
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Hi Jack well done for this pattern.....excellent
It is considered to be one of the more accurate patterns exhibiting a higher success rate than any other harmonic patterns. The bat pattern might look similar to a Gartley 222 Butterfly pattern but differs only minutely in terms of the Fibonacci ratios between the swing/pivot points.
pmifsud
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Trading is based on common sense....If you observe the 1 d chart carefully the trend is still downwards because the resistance at 0.73022 is still intact......once that is broken even by 10-15 pips i.e at 0.73122 then I suggest one to close the trade...as the next resistance comes in at 0.73535...The resistance is not a brick wall but it is like rubber....once pressure is applied to it, it will sag and break. I strongly believe that the NZD is weakening today and this retracement has reached its limits and now it will have to face its potential target of 0.7173.......This is my analysis but I am not telling anyone to follow me just my intentions...But let us allow the market to make its first move and let us befriend the trend.....hope this will help my firend