Looking to enter NZD/JPY longs when price entered a region of support at 72.440.
Looking for a target take profit at the top of the downtrend channel. High risk trade due to the underlying downtrend, but rather good Risk to Rewards trade.
The price action is reaching the top of the downtrend channel. NZD seems overly extended to the downside over dovish reports. Additionally, this entire move seems to be a corrective wave structure, downside is still of higher probability. Would enter in a short position here.
TP 1: 1.64400
TP 2: 1.63600
Continuation of yesterday's forecast on NZDUSD, the price has retraced significantly after the completion of the 2nd wave of a bearish trend.
At this moment, the price is seen hovering near the supply zone at 0.684.
The retracement has hit a volume of 34 pips, similar to the previous wave of retracement just before the price dropped yesterday.
For a confirmation...
This descending channel meant you could have been buying at every bottom trend line touch with take profits once it hits the top.
Risky moves were selling from the top to the bottom
VERY close to major support structure area. BIG BUY coming up
DON'T miss this - an UNCOMFORTABLE lot size on this move will go a LONG way in proving that patterns are KING!
So as you can see GBPJPY is now in a strong hyperactive zone, where the market makers will reverse this trend down. During the Asian session we expect not much movement, the strong reverse will happen during the London session. Market makers will push it further down with the important GBP news at that day. Guaranteed profit, believe us!
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The triple top reversal tells us that buyers are getting exhausted or they aren’t aggressive enough to push the price higher of the resistance 1.01000.
We shall wait for the price to break through the support 1.00500 for a signal and go SHORT after a retest of the zone around our new resistance @...
We are presently on all-time major support on 0.70800 (Buyers' Zone) and it appears that price is finding it difficult to breakthrough hence a possible uptrend rally is imminent. This can also be confirmed with the present character of price not willing to continue the downward channel ABCD trend as you can see price not settling in comfortable at...
Price has broken through the flag pattern formation to the upside indicating an uptrend continuation.
The channel EFGH (upward range in green) emphasizes a channel continuation to the upside as well.
Note that price was unable to break the hidden range ABCD the last time it was there (15th May 2018). Now it is back into this range 9 months after with a...
A text book corrective structure has formed on the H1 time frame AUDUSD. When price breaks the low of wave 3, I will be looking for reversal signs to trade this structure to the upside. Thereafter I am expecting a larger move to the downside to complete a structure formation on a higher time frame.
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IBO initial breakout on EURUSD and double bottom, inverted head and shoulder on daily time frame....complex elliot wave playing out on wave123, so we are going to catch the break and retest to catch the wave 5 movement
Here's an opportunity to Short XAGUSD . It has Targets which are marked on the chart.So don't miss it.
3. Moving average 20, 50,100
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