we get 3rd touch on daily rising wedge....and probably no more upper touch...and we broke lower line and forming bear flag(1h continuation pattern) NZD-JPY DAILY.jpg
GJ TO ALL WHO CATCH THAT ASSENDING CHANNEL SELL ON BREAK.... at the moment we got doubble bottom reversal trend at 1h we form first bullish flag and it went very good.... second bullish flag is forming at the moment.... pay attention to buy on break ...... ____remeber____ it is possible up trend !
we going down? probbably wait for break of correction (assending channel) then sell continuation down... and scale-in as new flags/channel form in future,to maximize profit....
this is why u will never get same position-answer from pro or amateur traders... somebody see this as assending channel somebody see this as break of minor patter-assending channel(revers pattern) whitin major pattern and ressistance(channel with little desending) so here u have nice buy option and nice sell option.... point of this is to never listen to other...
potentional long oportunity... if it break bottom line its still gonna be dessending channel (reversal buy oportunity) so be carefull..... at the moment we wait for break of channel and bounce of support from doublle bottom....
123 move.... impulse correction impulse... we hit major ressistance and broke minor channel.... no we formed flag or assending channel, whatever,which is continuation pattern....so u should have short bias on this one...
we got 3 rejection from daily channel support, at 4th break (if happen')sell... we break on minor assending channel(down) so maybe we continue down indeed
in last assending channnel u can find assendning channels to confirm falling down ...
we bounced back from weekly line (look at daily) and form dessending channel (long signal in near future).... Another test of weekly line or break through channel whould be very nice "buy" oportunity....
1h chart possible H&S pattern (sell) possible assending c. reversal or flag(sell) ** good job for those who sell at daily ressistance rejection ***
we are still down on WEEKLY after doubblle top we got impulse down then pull back into corection(at the moment) or assending channel.... at DAILY we just got reversal candle from support of channel so it could be long oportunity on daily chart... ON 4HOUR we got impulse UP and at the moment we could form correction (bullish flag or other continuation pattern) to...
Weekly dessending channel with 3rd retest of top line/ressistance..... if u combine that with asseding channel at DAILY chart which happend to be reversal pattern,you will see a nice short oportunity
strong down movement from top of dessending channel pattern(daily) broke of up trend (4hour) at the moment bearish flag for continuation down (1h + execution timeframe) R:R 1:9+ (for moving stops)
impulse+correction strategy for this down trend was very good.... watch for contination down.... first mini target 1:5 ... then trail for retest at lower low of correction ENTRY-depends on you... retest of ressistance or break of correction trendline
1h chart... pay attention to bearsih candle for entry aim 0.382 (RSI OVER.B) RR 1.2.5