Oztrade

WHY IT IS IMPORTANT TO FOLLOW YOUR PAIRS - D/B 2618 BAT GARTLEY

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
Hi All, I dont trade NZDUSD             - I wanted to share this for those who do trade this currency.

I have noticed some potential opportunities here, one being the Double Bottom - which would be brought at the next bar market after the test of the structure level and showing RSI Divergence.

Those who missed this opportunity - would look for the 2618 trade - being 2 for double bottom then hopefully an entry at the 61.8% level from the double bottom - you would look to take this trade to either structure or the 1.272% Fibonacci Extension .

I have also noticed in the 15M charts their is a potential BAT Pattern which you would sell at the 88.6% - this pattern will still be valid if we dont violate the A Leg - so you could potentially enter the 2618 trade - in anticipation to see price move upwards to complete 2618 and enter short on the BAT

If price does go upwards to fill the BAT Pattern - then we would hope to see our targets hits and then look for the potential Gartley which would form from the price action hitting all of these levels.

Gartley would still be valid as long as the A leg of the Gartley is not violated.

If price just continues downwards then we would not have a Gartley and we would look for other reasons for entry. Whether it is a buy signal or a sell signal.

Hope I havent confused you with all of the clutter on screen - normally I dont like to over clutter with too much, but in this case I wanted to show you some extra things to look for in advance.

What ever your strategy is whether it is 2618 - D/B - Advanced Patterns - AB=CD - Harmonic Moves - CTS             - Structure - Trend - Waves and so on

The most important thing is not to jump from pair to pair when a trader publishes a trade, stick with your pairs and your time frame. If you trade 15m only and some publishes a trade in 4H then you might have had 10 winning trades in 15M and all of a sudden 1 losing trade in 4H charts could make you lose more than all 10 winning trades combined, or at least half.

Remember Gartley Invalid if the C leg is not formed by at least 61.8% as shown on screen

Good Luck and Happy Trading
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