In our NZDJPY analysis, we are observing a potential shorting opportunity on the 1-hourly chart. Here are the details:
1. Setup: Bearish Shark Pattern Retest
2. Timeframe: 1-Hourly Chart
3. Key Level:
- Entry Point: Bearish Shark Pattern Retest at 92.07
The Daily Chart reveals a Bearish Gartley Pattern at X with RSI Divergence, suggesting a potential bearish...
📉 Monthly Chart:
- Support at 0.6160, but no end to bearish trend.
- Consider countertrend moves carefully.
📉 Weekly Chart:
- Market near resistance, but don't miss the bigger picture.
- Be cautious with countertrend trades.
📉 Daily Chart:
- Strong bearish movement.
- Market shows weakness at previous resistance.
📉 Four-Hour & One-Hour Charts:
- Potential...
A combo trade, a buying opportunity on USDCAD should Point C reaches the highest retracement point on the 1-hourly chart(left). This is a great trading setup because the entry price coincides with the 1-hourly chart(right) Type2 Bullish Bat Pattern at 1.3678.
Bullish Gartley Pattern at X is a trading setup that most Harmonic Patterns Traders won't be taking. I'm waiting for a retest at 0.9050 in waiting for a buying opportunity.
The retest will have the Bullish Shark Pattern form up on the first time on the 1-hourly chart. A perfect setup for a Combo Trade Trading Management.
