Why i dont publish in private? Because i am open to any suggestion, so if anyone wants to tell me something about the idea i published, i will be glad to read what he or she has to tell me !
In this case i am posting the pair usdjpy , which seems to be on a corrective structure. On the 1H chart there is a clear impulse up (arrow) followed by a correction, so buying when the is broken should be a good idea.
I will stop looking for buy setups when price goes below previous low of the impulse up.
Thank you again for reading.
For the entry price, i dont have an exact entry price, i will look for price breaking the trendline on the 1H chart (1 or more candles closing clearly above the trendline) and the only invalidating point of this setup will be if price goes below the previous low.
This setup is taking more time than i've expected, so the chances of it being a succesful trade are slowly decreasing.
Now its bed time here, so i will set a pending order at 122.800 because ive been monitoring this pair all day, and i dont want to miss it if it goes up,
Thank you for taking the time to read my chart, hope i answer your questions. Have a nice day.. or night!
In the 1H chart, it is now in sideways. Is this a wave 2 or wave 4 by Elliotte wave theory? Or wave B? If so, it will break the 4H resistance line.
Using Harmonic pattern, it seems to be a bullish Gartley formed. If the point D is till developing, price of point D will be 122.48 for a bullish Bat or bullish Butterfly. Going further to 122.12 and 121.75 for a bullish Crab. Should we wait 122.34 for the bullish alternate Bat to setup a long position?
Thanks again for your info.
(P.S. I have not much experience in analysis.)
As for harmonic patterns, i dont use them. But they are a great to help illustrate some kinds of corrections.