EURNZD is looking strong on the upside, however, we have a bearish crab (2hr) + bearish shark (daily) completing at the same spot. We have divergence developing so now is a good time to short. For us to reach the green target we will need to see the turquoise zone give out as well.
We have a shark pattern, a new high on the 4 hour, it looks like price has changed character, we may see the trendline below break one more time before a possible move up but I am entering based off what I see, the blue line is a 61.% Fib and The take profit is at the B point of the shark and 50% Fib spot.
Risk Return is 2.75-3.00 depending how you play it
I am posting this because I am testing a new strategy.
I bought this because we are inside a bullish reversal zone on the 4hr.
We also have a bullish Alternate ABCD, and we have divergence at the completion of the pattern.
Take profit is at the .886
Stop loss is 15 pips
R:R 2 to 1
I forgot to post this,
Alt Bat / Bat pattern
Completing at daily support
We also have divergence on the whole pattern and on the CD leg.
Keep in mind the U.S. is releasing oil news at 10:30am eastern which plays a role in the CAD strength as well
Possible buy coming up on the kiwi dollar. I would like to see this minor bear trend we are in continue down into the buy zone
IF PRICE REACHES THE BUY ZONE
I will look for bullish divergence, i will look for a bullish candle pattern.
Even though it is not an "ideal cypher" it's completion is at 618 Fib of the bigger move which means we could see a lot of...
Looking for one more high then I will be looking to take profits around the .618 Fib. I want some divergence on the 5 min time frame, or price to break below a 50ema and give a bearish candle.
The B point for this Gartley isn't at .618 which i really like to see, it is sitting around .64, just wanted to let you know, proceed at your own risk
We have bullish divergence (pink) but bearish minor divergence (orange) The harmonic is complete but it looks like there might be some room left in this wedge shape to fill, If we get another low I'll buy it if the pink divergence holds up and we get a candle pattern,
at the moment we are still down trending and i would need to see a previous high get knocked out...
Three Drives Pattern + Resistance Region + Divergence + Semi-Shark Shape
A great entry would have been at completion, if price comes up again and hold divergence, I'll look to short. Otherwise. oh well.
Two things I don't chase are women, and price moves :)
USDCAD looking ready to switch downward, If price extends into the Blue zone i might look for an entry on the 15 Minute chart, Overall I will be watching for a short on a pull back near the purple ema (50)
MACD is set to represent the trend of a timeframe that is 6x higher, in this case it would be the 6HR chart trend it is showing
I have adjusted my MACD to
represent what it looks like
on a Daily Chart, while I'm
on the 4HR.
The daily is switching to the buy side,
If price pushes a little higher and all EMA's cross.
I will look to buy the pull back.
We also have a Head and Shoulders Completed.
We had a Bullish Crab that formed in November of 2018 (check my previous analysis). Now, the market has definitely made a bullish impulse move as you can see. Price is slowing around the first take profit, judging off the price action this looks like it make have enough strength to push up to $6,000 as well. Depending on how price reacts at $6k (if it gets there)...