Wave-Trader

Price about to hit expected level

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
1170 18 48
Price about to hit expected level. i am waiting for price action. i am watching very closely for trend continuation or reversal if price bounce back i will look for buy setup and if price break down then i will look for price action under broken structure for trend continuation
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i am still expecting wave down
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expecting short setup from top
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Price about to hit expected level
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This is how patterns work if any one remember this
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When will enter this trade. What are the things you are looking for before entry.
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Interesting analysis. It pays to look longer term so you can see the Bear Flag on Mthly. I'm curious though why you re-drew your trendlines on the daily chart? You changed it from a Channel to an Ascending Wedge & other than the recent rally out of the Descending Wedge nothing had changed?? I would have picked up the channel no problems but not the wedge. Some people would say that this is the problem with trendlines v's horizontal S & R lines in that the trendlines are very subjective. I also see them re-drawn many times to suit people's perspective it seems to me. I'm not saying you have done it for that reason as you obviously use them a lot in your actual trading so that would probably be lying to yourself. I would like to know why you changed it however. Thanks for this btw. I have only just looked at your page a few hrs ago so haven't had a chance to find out how you trade but I will be watching this trade. I assume you will wait until you see evidence of a possible move down before placing a trade? I doubt you will be placing a Stop order to Sell off the trendline as too hard to pick the level? Although there are some EAs that will automate that entry off the trendline. Regards Mark
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channel has completed mate
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Wave-Trader TOP Wave-Trader
this pattern is under formation
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Wave-Trader TOP Wave-Trader
i have changed it because i can see after channel completion ascending broadening wedge is forming so i need to know where it may form a sell setup
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Wave-Trader TOP Wave-Trader
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here is the pattern identification mate which you dont know how to identify pattern and if really you dont know then look at my educational post mate which gonna help you and i dont trade on lines mate i trade on patterns and waves
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Great. Thanks Wave, I've learnt something already today:)
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Chart Patterns and  formation of breakout signal
if still not confident then go through this post mate you will get your answer more clearly mate. my pleasure mate and thanks for your feedback.
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Just a question, some traders would be looking to sell off the rally to the bottom of the channel. i.e breakout retest & see the bottom of the channel now as resistance. You don't it seem's so I will observe with interest. Thank you for posting.
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because bearish momentum has lost its strength and it is very likely to break back in the channel and make new highs and if it happens i will look for sell on top not under the broken channel.
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Now sell?
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Wave-Trader TOP AhmetAlperOzen
did you see update mate
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Wave-Trader TOP Wave-Trader
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AhmetAlperOzen Wave-Trader
yes, and I see upper band hit and risk taking entry time. Right?
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Wave-Trader TOP AhmetAlperOzen
yes and if you catch this trade on right time then dont close it early ya its gonna give you almost 5000 pips and will take almost 27 to 30 days good luck mate this could be nice trade setup
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AhmetAlperOzen Wave-Trader
thank you very much
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Wave-Trader TOP AhmetAlperOzen
you are most welcome mate
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nice
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