THESE ARE CURRENTLY PENDING ORDERS waiting to be filled, you can see my clear stop loss and TP levels. Trust your own analysis.
You can see I am already in and looking to duplicate the move over to the left before the correction. Time will tell
Looking to take this down near the bottom of the channel, the purple box is the ideal target.
Expect this to potentially be choppy, I see this as the 3 wave move down. Setting TP at the fib level, lets see :)
We took a great trade for the majority of wave 1, wave 2 is always choppy so we took our profits, and now we look to be heading up for waves 3, 4 and 5. This whole move is the correction leg, so again, it could take longer. The OVERALL bias for GBPNZD is sells, and that looks to be coming into favour next week.
Given myself a wider stop, to add order if need be heading into London session tonight. Will be watching for additional downside past the first target. Screen shotting larger view into the comments also
Showing you a higher degree chart so you can see my wave count. I believe we are in for upside from now, or close enough at least. Missed a few other big pairs moving, don't want to miss this one.
The red line is my daily structure line, where I have my TP set. Got in this move a little later than I wanted as I just woke up, saw the move and decided the risk reward was worth it. I don't expect this to be fast moving and I do expect heavy bearish momentum to continue, just not for a few days. Small lot size so letting this ride.
We are in the move now, looking to ride the final part of the correction up. Overall this should be the 5 wave leg of the C. We will watch, proper risk management always
Overall, this whole move is the correction, so, it ca be traded, but will take longer to play out. You can see the clear impulse down on the higher timeframe, and the correction is just beginning. Pending orders set at the fib levels you can see on the chart, and the stop is just below the current low.
Watch for the ABC zig zag to be completed during London session tonight, followed by continued downside. Unsure of the end point, watch for transition.
Rules fulfilled for the gartley pattern, will now wait over to coming sessions to see what happens. Could for sure drop lower with the momentum down, and corrective structure will show us that. Won't be trading any shorts however, looking for these longer term buys to come in soon.
Aussie looks good for some strength in the coming weeks, and the National election is at the end of this week, which will probably be the catalyst for anything big. This pair may stall for a little, and I would like a little more downside before I get in for buys. I am seeing something similar for AUDUSD also, did not work out the potential pips to the upside...
Looking to form a clear running flat pattern (where it is now) or the hopeful and very predictable standard flat, where you can see I hope it goes to, purely for better returns on any short position. Bullish buyers beware, this is still a bear's paradise for the days to come at least.
Near complete, if not already, flat pattern. Waiting on more accumulation in the area and to sell in the wicks. Big downside potential on this and GBPNZD coming, don't miss it
We are at a daily area of interaction, rather large divergence on the RSI and some form of downside must occur before we keep going bullish in the weeks to come. It MAY continue to push up a tiny bit, BUT, with some Aussie dollar news coming out today, lets see if it affects this pair at all.
Diagonal patterns signify one thing, the probable turn and reversal is close. This is what we may be seeing with Gold, and silver for that matter, in the coming sessions. Non Farm Payroll announcements tomorrow look like they will send many a pair dropping against the USD, that is what the charts are showing. The fib ext level you can see on the charts makes this...
We are approaching the end people, but a confident sell is on the cards for sure. You can see where I will be watching for more downside, but in the coming weeks I am expecting EUR strength against almost all pairs except the GBP. We are in the final part of a zig zag, and the thing with zig zags that even though they look straight forward, they have a large...