EURZAR moves in the uptrend. It had bounced from the support line and broke the falling wedge pattern. The main target is 50% Fibonacci level.
Best regards, EXCAVO
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so for this trade, i was focused on finding the appropriate entry.
i looked for the struture within structure entry as opposed to the impulse-correction entry
TREND:
the HTF structure is complete and thus im looking for a continuation structure
ENTRY:
wait for an impulse followed by consolidation for the down move
LESSON:
wait for the impulse and correction to enter the trade. look into the three entry criteria.
We have a break of structure and price is currently compressing towards a liquidity level. We shall expect a fakeout at the supply zone, before selling
EURZAR on the 4h chart created a triple top below a weekly resistance.
The price is currently testing the ascending channel trendline over a daily support and according to Plancton0's strategy if the market will break below we will set a nice short order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly...
This could either be a reversal structure or a bigger corrective pattern for an upmove.
We see a sell setup that keeps extending, eventually a fall will come.
Trade with care use a stop loss.
OANDA
