patelsa

PRO
Message Follow Following Unfollow
Joined
Markets Allocation
83 % forex 17 % other
Top Mentioned Symbols
GBPNZD 16% | 1 USDCAD 16% | 1 EURJPY 16% | 1 GER 16% | 1
patelsa patelsa PRO NZDUSD, D, Short ,
NZDUSD: NZDUSD - Potential Short Opportunity
23 0 2
NZDUSD, D Short
NZDUSD - Potential Short Opportunity

Based on the current structure, I see a horizontal triangle. Last week price hit the top of this structure, that could potentially confirm the start of the next (5th) wave down. Next week price can do one of two things: 1. Continue to move down slowly then into an impulsive move down. 2. Continue into some consolidation before the next impulsive wave down. ...

patelsa patelsa PRO GER30, D, Long ,
GER30: GER30 - Short Term Trade - Potential Long Opportunity
193 0 3
GER30, D Long
GER30 - Short Term Trade - Potential Long Opportunity

The DAX is going through a correction at the moment after completing a 5 wave up structure (not shown on the chart). My long term bias for this pair is short. However, it looks like the current corrective wave could be coming to an end before it starts another ABC structure. How to trade: - Watch for a break and consolidation on the lower TF trend line. This ...

patelsa patelsa PRO GBPNZD, D, Long ,
GBPNZD: GBPNZD - Watching for long entry
24 0 2
GBPNZD, D Long
GBPNZD - Watching for long entry

Plan to trade: - Monitor current correction on a lower TF. Potentially enter long on a pullback with an initial TP of trend line shown. - If price breaks trend line and closes above it, my plan would be hold the position for the longer term move. - If price doesn't close above the trend line, I would close my position and monitor further downside for a completion ...

patelsa patelsa PRO EURJPY, D, Long ,
EURJPY: EURJPY - Potential long term buy set up
28 0 2
EURJPY, D Long
EURJPY - Potential long term buy set up

Reasons for trade: - The current wave (correction) looks to be coming to an end. Divergence appearing on the MACD between the first impulse down and the current impulse down. - Based on corrective structure having a minimum 3 waves, I expect one more move up to complete bigger picture correction. - TP would be around the 78.6 level. If the current wave's low is ...

patelsa patelsa PRO AUDNZD, 15, Short ,
AUDNZD: AUDNZD - For those who missed the initial impulse
62 1 16
AUDNZD, 15 Short
AUDNZD - For those who missed the initial impulse

AUDNZD had a rather quick impulse down today. It looks like price is currently consolidating this move. There could be an opportunity to enter short again. Watch for divergence on a lower timeframe around the 38.2/50 fib level. Or you could enter on the break of the consolidated candles. TP - 27 fib, which more-or-less lines up with the bottom of the ...

patelsa patelsa PRO USDCAD, 240, Short ,
USDCAD: USDCAD - Short Term Sell Idea
83 2 19
USDCAD, 240 Short
USDCAD - Short Term Sell Idea

Reasons for sell: - Divergence forming on the 4H - Potential completion of wave 3 in this part of the correction TP1 - Closest trend line (orange line). TP2 - If orange line is broken and price consolidates within that area, I would look for a further short to the larger timeframe trend line (blue line).

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