FX:NZDUSD   New Zealand Dollar / U.S. Dollar
40 2 0
We don't open a short trade as soon as the PRZ is reached anymore.

The PRZ (Potential Reversal Zone) is an area where price is likely to reverse given the confluence of several Fibonacci levels. Before we open a trade, we have to analyse the price action in the PRZ. Ideally, all the three lines of the PRZ should be touched (tested) before the reversal takes place.

Here we have a bearish Bat in an uptrend. What gives us more confidence that the pattern could be successful is that the bottom trendline of the up-channel is quite far away from the PRZ and the PRZ is at a level where there was a great amount of supply in the past at point X.
I'm looking to exit my long position just below 0.85. But maybe it'll get to your PRZ too. Unless it retraces deeper from where it is now.
Reply
dvarrin ForceFollower
For my rules price action will have to test the whole PRZ. If it doesn't I won't trade the pattern. Let's see ;-)
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out