Here wave 4 has completed and we are looking to enter SHORT for the wave 5
We see a nice wedge breakout that confirms a sell
We will enter at the 50% or 61.8% of the first move of the wave 5
A bat pattern that confirms the sell and the completion of wave 4
divergence at the completion of wave 4 and at the completion of the bat pattern that confirms the sell
this is should look like our entry
entry : 0.72573
tp1 : 0.72320
tp2 : 0.71959
tp3 : 0.71621
a risk reward of 3/1 on tp 2 and +- 5/1 on tp3
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i'm happy to answer any question !
Kommentera:
our entry has changed to 0.72538
Kommentera:
we didn't enter because we didn't see a rejection of the fibo line i will look for another place to enter nzdusd
Kommentera:
price is currently rejecting the 50% of the bigger trend if i see an inverted hammer or a candle signal i will wait until the next candle breaks the low of the signal candle then enter
Kommentera:
we won't be looking for an entry anymore because i didn't hesitate on the fib % no trade was taken here