Since Tuesday this pair has dropped more than 600+ pips. Finally its showing some signs of weakness in bearish move and i also see a support zone in current area.
Trade is based on daily Clone lines . i am expecting it to move at least till that black trend line 2.394x. If it breaks that trend line then next target will be 2.418x
SL : 2.37
This pair is currently testing the broken resistance . Look at the left this area was nice resistance in the past and could very well act as good support zone. I am seeing this as wonderful opportunity to try some longs here. Before i do that as usual i will wait for PA to direct me and some kind on Candle confirmation is required to get onto it
Entry...
I think its a good opportunity to long this pair .I have a completed bullish gartley and close to completed bullish butterfly. A good structure on the left which could act as support zone. Current price is also at the decision point of clone.
I will be adding longs on every dip from here on.
Entry: market/ prz zone
SL : below prz zone
Tp: Open
i will be shorting this at market to grab some pips with stop loss around 2.38 . Trade is based on the current price action and also the 34ma resistance. Take profit open
i will be shorting this to grab some pips on the CD legs of both the patterns. The second pattern is orange have a nice fib confluence at D.
Entry: Market
Stop Loss: 2.395
i will be shorting this at market for the target around 2.346x area. This trade is based on the Clones , the lines on the chart are my decision points for the move while in trade. There is also a potential bullish Gartley is in progress which has its D area around my target 2.346x area
Sell at market or 2.367x area
SL 2.3710
TP: 2.346x
The Bearish Bat has been printed at the top , 2.4 area has been decent resistance for a while and the price has retraced from this area few times. I am afraid to take this trade because of the current bullishness in PA but if it works it can give nice 300-400 pips on this trade. Anyways i m watching the PA closely ,as soon as i see some weakness i will jump into...
I will be shorting this at market based on clones and the retouch of broken trendline. Horizontal lines on chart will be my point of interest while in trend. i will add more trade if it goes below 2.335
Note: i will be looking to buy if price goes above stop loss.
Entry, SL and targets on chart.
Disclaimer:
I will be buying this at the break of upper trendline in black to catch the cd leg of potential butterfly and potential abcd,
Trade is based on
a. Potential Bearish Butterfly
b. Potential Bearish ABCD
c. Reference Range and Clone
Entry : 2.386
SL : 2.378
TP1 : 2.41
TP2: 2.425
Disclaimer:
Expecting on chart scenarios . The price once again rejected right at 2.37xxx area, PA did try to it once on 22nd july to break this area but failed and did some down move. once again price came to this level and immedieatly move away from it to down side.
I will be waiting either to buy near the broken trendline or on break of that resistance at 2.371x area . I...
Based on current pa and the clones(reference range is in orange and the clones are in green ). I will be buying this at the break of that black small trend line .
SL 2.3348
TP Open
GBP fell against all the majors after the disappointing retail sales figures.
It fell even harder against NZD after RBNZ interest rate decision, which brought the price back to very interesting levels.
Price stalled at the old trend line support and have bounced back since, breaking the initial resistance of 2.3400 as marked on the chart.
This confirms that the...
Analysis on chart.
We can see that there is potential pending upside in this ratio, as evidenced by Rgmov's intense uptrend signal and the EW count I could obtain for this leg, which shows an impulse top, but not a complete 5 wave advance.
I think this chart helps us devise the directional path for gold, nzdusd and gbpusd, as well as gbpnzd.
We might have a good...
