both scenarios have profitable trade setups.
wait to see which one is going to play..
I'm in long from about 156.740 ( check related ideas), as soon as I find out that its going for triangle, I'll take profit and look for short setup , and if I was wrong and it breaks to upside, I will wait for correction for another long setup.
The pattern is triple combination ending with triangle.
I'm looking for a break even trade at the break above 0.71723.
Break even trades are trades which I enter and I move my stop to break even as soon as structure allows me.
price acts as corrective structure and looks like a double combination or triple combination.
still there is no trade setup, we have to wait to see a clear structure.
There are 2 different labelings, blue one is WXY correction ending with an ending diagonal ( red numbers refer to blue scenario and ending diagonal) and green one is WXYXZ which is not finished yet;...
Note the nature of market; price acts fractally and repeat a pattern over and over...
Its making 3 waves, each one contains another 3 waves structure itself
this setup is valid if price breaks the trendline and consolidates in lower time frames.
These are possible future moves of EURNZD.
Don't forget that corrective structures are very complex and they can develops in various types of patterns, so i don't expect market goes completely in the way i anticipate, but maybe this is the best labeling based on price action we have right now.
This long term analysis is not a trade setup. It is just an analysis...
This is a long term outlook of GBPCAD.
Now we are in correction and A wave of an ABC corrective phase is about to over.
We are going for a B wave to upside; but it won't be an impulsive and sharp move, it will develops in a corrective manner.
This long term outlook leads me to several trades in lower time frames.
I will post updates below this post, whether the...
I think the flat correction is about to end and we will see an impulse wave to upside soon.
I'll be a buyer at the break of correction happening after 2-4 trendline breakout or after break above the wave 4 of Y wave of the flat.
It seems that an impulsive phase has been finished.
this impulsive wave, itself, is possible wave 1 of a long term down trend ( or maybe wave A of a long term correction, but wave 1 is more likely)
I will wait for correction in lower time frames for long setups and joining this movement to upside.
GBPCHF had broke the trendline. its a possible indication that this corrective move to downside is over.
for entering long and confirmation of this analysis we need a correction.
Note the long term divergence.
this analysis is not for a trade setup. this is just one of the scenarios that GBPCHF can develop; we have to wait for more clues and see how the pattern...
this correction pattern is about to end. its a flat type of correction.
"STILL" it has room for more upside, maybe for making an ending diagonal.
I will be a seller only at a break below wave 4 shown in the chart or if it goes more upside and makes an ending diagonal, I will enter upper on the break of ending diagonal