Goodmonring, I've been watching this pair for a while now. and i posted a potential trade 7 days ago ( ) If the price come's to Point D of the gartley pattern i will go short on this pair. on that point it could be the right shoulder of the head and shoulders. Lets see where the price is going! Good luck this week. Best regards.
Even though a small Fibo retracement can give you a beautiful trade. Entry point and confirmation of entry is very important here.
The candle at 18:06, which passed through my confirmation was actually not strong enough. Although I caught another pullback, this one is not as beautiful as the one before.
Although the bullish power was not strong enough to create a new day's high, it was enough for me to get profit in 5 minutes.
Obviously the price would get bounced from the trendline. When the big green candle appeared at 18:35, I was ready to get in. However, that candle did not close above my confirmation of entry. I waited for a few minutes and got in at the beginning of 18:39. This may not be a safe trade as the 18:38 candle closed just a little bit higher than my confirmation...
there is a channel and 8045 has been tested twice. this shows that 8045 is the R that I want to watch on n price should not day close above in order to spoil this hns pattern for a new downtrend. I see a channel with macd divergence but the channel itself is awkward as the channel break does not present the best RRR. Hence i will need to modify my entry and look...