In this setup we are trying to go long to take profit from a possible retracement of this massive GBP sale out , with an over extension in the H and D charts , in a reversal zone ( green ) or Optimum Reversal Zone ( dark green ), formed with Fib extensions and inversions, and structure levels
SL : 166.689
TP : 174.832 previous support , that should become a...
I see here 2 opportunities to go either long short
- Short around ( 1.08100 ) ( red zone ) giving us before 3 profitable structure trades , with a SL at least at ( 1.09013 ) and a TP around ( 1.05547 ) as a retest of the lows .
- Long around ( 1.05547 ) ( green zone ) , with a SL at least below ( 1.04652 )
NOTE : We can have a buy opportunity in the 3 blue...
I see a nice possible short of the NZD/USD with an over-extension of the leg in the big red zone, the dark one if you want to be more aggressive
SL: (0.69043)
TP 1 : 38.2 retracementof the leg, in confluence with the previous high around (0.68309)
TP 2 : 61.8 retracement around (0.68042) of more if we will see more selling pressure
- The blue lines indicate...
An opportunity to go long with a cypher pattern completion around 0.66465 ( green zone ) .
Pay attention to the SL , that should be below the support level ( the black line ) and using the ATR.
the confirmation of this trade could be taken by looking at the momentum using ( RSI / CCI )
It's important to bear in mind that we are looking for a counter-trend trade (...
A potential Gartley pattern is built-in up, giving us a possibility to go long around (119.288 ) (green zone), for a retest of the low ( 120.898) or even the previous high (122.558)
I expect some uncertainty as we had it in September, that should tell us if we are going to continue the up trend of this pair or not.
- keep an eye on the momentum ( RSI / CCI ) to...
I see an opportunity to get short with a completion of cypher pattern around 0.68015 . ( look for a confirmation in your RSI / CCI ) for an over extension of the leg.
- It will be a trend continuation trade, with a possible double top in the daily + pay attention to the green line ( which is a possible support and 61.8 retracement of an outside return, giving us ...
2 opportunities that I see . The first one is already taking place which is going long 1.06146 and the second one is a short while a possible bat parttern completion around 1.12504, and 2 TPs as the charts shows.
- Of course everything is possible
