NZDJPY Bearish White Swan And Short Opportunity 03-12-2018
CHART TIMEFRAME: H4
INDICATORS: EMA50 & EMA100
CHART PATTERNS: Bearish White Swan Harmonic Pattern
EXPLANATION: Price is above EMA50 and EMA 100. The trend is Bullish. We look for a potential retracement opportunity of 30 – 50 pips. According to Fibonacci ratios, Bearish Harmonic White Swan pattern would be completed at 78.32. According to MM Calculation entry level is 78.52.
AREA OF ENTRY: 78.32 – 78.52
TARGET 1: 78.00 ( EST. EMA 100 SUPPORT )
TARGET 2: 77.80 ( EST. EMA 50 SUPPORT )
STOP LOSS: 78. 75
WAIT FOR THE PRICE REACHES THE AREA OF ENTRY AND MAKES H4 CANDLESTICK CLOSING.
UPDATE: TRADE REACHED THE FIRST TARGET 40 PIPS. YOU CAN CLOSE THE 50% OF THE PROFIT AND MOVE STOP LOSS TO BREAK EVEN.
UPDATE 2: TRADE REACHED THE SECOND TARGET AND CLOSED WITH 50 PIPS
NZDJPY Bearish White Swan Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility