After a bull run from GBPCHF this few days, it reaches my PRZ zone.
I will switch to smaller TF, finding the best price to enter two trades. Let's monitor RSI as well.
XAB : 0.500 (0.449) ABC : 0.786 (0.792) BCD : 2.286 () XAD : 0.886 (0.883) PRZ : 1.2740 - 1.26721 Risk:Reward = 1.8 Just have to be patient, watch PIN bar reaction at PRZ zone.
I will be a buyer when it reaches yellow zone. Watch RSI.
E: 19.586 S: 19.412 TP1: 19.837 TP2: 19.989 Risk/Reward = 1.44 I shall monitor the movement of RSI
XAB : 0.618 (0.613) ABC : 0.786 (0.742) BCD : 1.618 (1.377) XAD : 0.786 (0.785) PRZ : 1.2925 - 1.2947 (0.0022) Wait for Point D
I am setting buy limit pending order at D zone. Watch RSI and H1 price action.
It's for my own trade verification. I already in.
Closely monitor if AUDUSD forms bearish bat in upcoming weeks.
Wait it pull back and retest the zone. I am still waiting.
Monitor the yellow zone. Wait for pull back and long. XAB : 0.50 (0.558) ABC : 0.886 (0.745) BCD : 2.168 (1.756) XAD : 0.886 (0.873) PRZ : 1.71214 - 1.70727 (0.00487)
XAB : 0.618 (0.676) ABC : 0.786 (0.807) BCD : 2.168 (736) XAD : 1.618 (1.624) PRZ : 37.67 - 38.86 (1.19) There are two possible stop loss (SL: 35 and SL:36)
Closely monitor RSI. Current price level is weekly chart support.
I will wait for D point. Estimate date: 2- August-2016
Potential formation of two harmonic pattern. I just monitor how the candles move to make trading decision