Here are 5! entry confirmations for this Trade
1. Price tested A .618 fib level on the 4hr
2 Beautiful Morning star candlestick at the bottom of entry
3 Final data point of triangle pattern
4 price Retested Structural support Zone
5 Gbpjpy is in a solid uptrend
Tp Was calculated using fibonacci From the Bottom of the current wave to the second major...
From the chart, price is at 78.6 level. There is some structure to the left.
One the one hour chart there is clear divergence.
Scrolling down to the 30 min chart there is a break of the trendline.
A safe entry would be a stop below the structure. For a tighter entry, then one that is a few pips below the lowest low that price painted. Risk difference is 14...
AB=CD pattern is being painted by Price.
Weekly trend is bearish
Daily shows a strong bullish movemen which has retested the consolidation zone.
The price has not made it to the larger 61.8 level, finding a position in between.
From the one hour time frame there is a clean AB=CD retesting the previous structure. The trendline has been broken. There is also a...
Price is currently following an ascending wedge.
The price is almost at the peak of the wedge.
Price has stalled at the 61.8 level from the last major swing.
I expect at least a short sell into the the wedge or, for more security, wait for price to break out of the wedge and use a smaller time frame for entry to reduce the risk.
This is the type of harmonic I am looking for.
Downward trend.
Harmonic for Sell signal
Price has broken out of the trend line and retested. (I was late for the first entry)
Next move was a Fibonacci retracement at the 50 level.
Risk is 25 pips
Reward can be upto 240 pips so nearly 1:10 risk reward.
RSI is below 50 and on downwards trend.
