Everything is on chart. It looks very promising but we must understand that we are in weekly corrective move anyway so it is counter trend setup. Otherwise everything is on chart, simple as that!
FX Protector
123 pattern with very good risk to reward has formed on NZD/USD
Reasons for entry are on the chart and please have in mind that we are not in clear trend on D1 so this is the downside.
I just want to warn you that EURGBP is on strong structure.
On H4 we have already got H4 reversal bar + divergence and some fibonacci extensions (agressive entry)
Otherwise everything is on the chart, enter a trade by your plan! :)
I would personally wait that price come back and touch to previous structure (green box).
That D point is AB FE 127 but as i said 141 would give us better entry point.
AUD/CHF has formed nice 2nd 123 setup on strong structure!
Reasons for short are on chart, While writing this idea price already droped quiet a while...So you might have late entry... For engulfing pinbar you should check it by yourself because on this idea chart is not visible so much!
Stop loss is set to 1.5 ATR.
1st take profit is set to retest
2nd one to FE...
Gold is slowly reaching strong support line and i am expecting for little bit bigger correction to the upside! If zone 1000$ will be ignored next probably even stronger support is around 700$ (about that next time):
Why this is strong PRZ (potential reversal zone)?
- Strong structure
- 1000$ round psychological number
- Fibonacci retracement 78.6
- Fibonacci...
1. Major trend is bearish
2. We got break of triangle with nice forming 123 or ABC pattern (LL->LH->LL...)
3. 3rd touch of resistance trend line gives even more confidence.
4. Price is currently sitting on structure from previus swing low (support became resistance)
5. We also have fibonacci retracment 50%
Enter on D1 waiting for pin bar, engulfing or any candle...
