GBPNZD update -> still in the game. Correction was deeper then expected, but stayed within predicted area. I moved SL to break even when price reached 1 RR ratio. Let's see how this trade plays out...
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DislikedNo doubt, Fibo is one of the most important technical tool for identifying good swing point of market! Besides, RSI is very popular default trading indicator, but it will show you overall market flow rate, you cant rely on their any specific point blindly! In my live trading chart, I always use Fibo tool, and I use market movements pattern for knowing about market flow rate!Ignored
DislikedGBP/JPY update -> A pair has broken out of daily wedge formation with impressive 460 pips move. Lets see if we can get some correction around 140 level, before resuming upwards. Technicals are clear, but fundamentals aren't. It's PM May's announcement / Brexit driven move, so we have to be careful what will happen after correction. If we see some risk averse fundamental event happening (like Trump making more mess in Korean Peninsula or Syria), GBP will probably not see continuation of an up move. {image}Ignored
Disliked{quote} GJ H4 sorry if I disturb your charts, here is my view , more from pivot view and non lagging MA. My tp is upper red curve its MN 200 nonlagging with confl. MR1o and round number may be 141.00 {image} trade wellIgnored
Disliked{quote} I'm getting the same target based on fibonacci retracement (23,6% ret -> 118 % ext) 141, but we have strong resistance ahead and I see some divergence forming. I have faded move to 23,6 % ret with 1.3 R profit (less then hoped for ). I'll be waiting for deeper correction now, if it ever comes. I'm not comfortable going long on shallow retracements, risk : reward ratio is not high enough for my win : lose ratio percentage. {image}Ignored