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GBPNZD shorting opportunity Price has failed to break 1.74800 for wave 3, 5, and B. Heavy consolidation during Wave 5 which was the last chance for buyers to reach higher highs, however price halted and broke the bullish Trend-Line. For B we had confluence with a retest of the broken trend-line and a retest of the supply zone. Looking to see how price reacts to the lower zone, if we get a break of the lowest Trend-line that would validate the bearish move a bit more. Ideal time to sell would be a break of the lower zone.
by CroomFX
Short Cypher on the USDJPYFor any cypher pattern traders out there, we have a nice cypher setting up on the dollar yen hourly. Entries for cyphers are at the 78.6% Fibonacci retracement and this one is at 118.10. The major problem with the cypher pattern is that they have an inverse risk to reward for target ones but it makes up for that by how often it hits targets. Be sure to get the stops a over the highs of the structure to avoid any noise that might happen and stop out a winning trade. I have targets at the 38.2% 61.8% and the 100% Fibonacci retracement of the C-D leg because that's my trading plan but be sure to use what is in your plan.
Short
by tpick74
Structure Short Opportunity on EURCADHey Traders, I know its slightly late, however as I was scrolling through the charts, I remembered about this trade that I was keeping an eye on. This is a simple Trend Continuation trade for me, We are breaking structure to the downside, and now we got a pullback intro previous resistance which gives us a great RR. For this entry, we waited for a lower low lower close, if you have to zoom it, do it. You will see how price consolidated, even put in a small double top with RSI divergence, and then finally we got the bearish confirmation candle when it closed below those lows. Stops should be above that high, because if price passes that, that most likely I was wrong and I want to be out of the market. You can break this position up in two, and remove half your position at that level of support, and then move your stops to break even, or you can just trade one in and one out. Personally I Like securing my profits ASAP and then looking for extended targets. That Way I never leave myself exposed for too long. Anyways, Hope this trade Idea helps, Like always, if you have any questions feel free to comment below !
Short
by TheAlcoveFx
Silver , Just a small short term trade , possible short position1hr time frame , we have possible short entries developing for a short position , price is currently struggling to keep momentum moving to the upside , as we can see a lot of in-decision within the 18.400 - 18.300 , should we see a strong reversal from the descending trend line , a short position can be taken with low risk. We may move down even as far 18.000 , where we can expect major buying to occur. But for now short term short position.
TVC:SILVERShort
by Oz001