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Beyond the Candles

GBPNZD
I would like you guys to share your thoughts on this pair.
This is a trade I took a few days ago. M is RM, P is at MM level which coincides with bearish controlling bar R. On W we got bearish PB at MM level 2 weeks ago. On D P evolved to a triple top and broke the neckline. The RET didn't stop at neckline but went higher and paused for 2 days. I used a technique based on the 61.8 fib Ret for tradind double tops and bottoms so That's when I entered. On the next day I saw a big bearish engulfing candle.. If it breaks S at TG1 probably we'll go all the way down to next MM level (TG2)
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Hi poncho !

At this very moment I don't really like so much the GBPNZD...so much traffic and with M in bullish H&S ( not confirmed ) + W in bearish H&S...so I expect to see a continuation of the RMs and this confusion fase for this pair ( buyers + sellers in the market ) !
You did spot very well the M CB...but where is the P right now ?...in the middle of its range....it would have been much simplier to have more informations at the R / S level !
I don't say that it is impossibile to trade it...I just say from a personal point of view this pair ( as it is now ) it doesn't meet my requirements / selection criteria !
Nothing personal,just business
You're right, GBPNZD is very choppy market. 2 days ago I was about 150 pips up, moved my SL to BE, only to see it taken out this morning on a spike and now it's kinda turning down again. It is safer to wait at the RM R and S. I just tried to trade the smaller RM that formed between the MM levels inside the big RM because there was enough room but it didn't work very well. Now I'M just going to watch.
EURUSD
We have a M close below RM. Now we wait for RET+ confirmation on D.
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EURNZD
Bearish overall trend. 2 W bearish PB in a row, now the M candle has printed also bearish PB at M level
This pair has been trading in a choppy fashion lately (indecision) in a RM around M level and slowly is turning down. If it breaks structure support to me the sellers will have control.
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Eurnzd_d1

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sr
GBPCAD
This is what I would look for in this market
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Quoting ponchofx
GBPCAD This is what I would look for in this market {image} {image}
Looks with sense to me, but down direction I would consider only in range of 2008 hestitation.
At the moment price stopped at strong support.

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Quoting ponchofx
EURUSD We have a M close below RM. Now we wait for RET+ confirmation on D. {image}
This is what I am looking for
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Nothing personal,just business
Quoting fxgroup
{quote} This is what I am looking for {image}
Have you consider ML level in this case, because I think it is one of the crucial point ???
This is a video where I explain the technical reasons why I decided to buy the USDSGD :

Inserted Video
Nothing personal,just business
AUDSGD...we have seen very often how the RMs are the most important market structure and this pair is a classic of how the RMs form starting with a DT ...the S level is always the final TG meanwhile the most important swings within the RM become MM levels :
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Nothing personal,just business
AUDSGD
Thanks FXgroup, I've been also watching this pair. I haven't entered a trade yet because P was in a tight RM within the big one. Now we'll have a W close below W RM and below DT neckline and next week I'll wait for RET on D to W RM S/R and confirmation. Is this the best way to trade it?
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Quoting ponchofx
AUDSGD .... Is this the best way to trade it?
Is definetely the saffiest !
Nothing personal,just business
Is anybody following AUDNZD? Is it laying the foundation of a long term bullish trend or was this breakout false?
I think these days we should see confirmation if the breakout from dynamic RM is valid. Right now P is below the TL and testing the first major static S at the top of the old RM D. There is also a MS at 1.10 and then the bottom of the RM D at 1.0930. Until that S is taken out I still view current move as RET . On one hand, I am tempted to place an order if I see a bullish confirmation candle. On the other hand, there are too many S/R levels in close proximity and market could stay volatile as the battle between buyers and sellers rages on. I am guessing that Fxgroup's advice would be to wait until P closes again (if it will go up) in the old RM W from last year (see my charts) then test S+confirmation. Am I right?
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Quoting ponchofx
Is anybody following AUDNZD? Is it laying the foundation of a long term bullish trend or was this breakout false? I think these days we should see confirmation if the breakout from dynamic RM is valid. Right now P is below the TL and testing the first major static S at the top of the old RM D. There is also a MS at 1.10 and then the bottom of the RM D at 1.0930. Until that S is taken out I still view current move as RET . On one hand, I am tempted to place an order if I see a bullish confirmation candle. On the other hand, there are too many S/R...
I see a messed up situation, with too many close levels and tight RMs.

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Quoting dfumagalli
{quote} I see a messed up situation, with too many close levels and tight RMs. {image}

I see only possible TG at R and maybe bullish attempt after resistance flip into S.

But big messs, right.

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The trading IS simple...all we have to do is waiting for the P to respect our PTT&TTP and those market conditions when we know exactly WPD+WPG !
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Nothing personal,just business
Greetings,

I drew this chart in 2013. I am no longer surprised at how price respects the lines drawn.


Thanks
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Updated chart.

Will wait for bulls control & RET of Dynamic RM support.

MM: LVL 8148 or Green Line(Resistance of bull flag).
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