EURHKD trade ideas
EURHKDLong Call
Trend Reversal at the bottom
Inverted Hammer
Followed by 3 White Soldiers
New Higher high formation
New Higher low formation
Entry @ break point of previous Higher high
Trendline is made on daily candles
3 Stage target price setting
1st TP - 50% - 9.18930
2nd TP - 25% - 9.19880
3rd TP - 25% - Trailing Stop Loss
Stop Loss 9.139 (Below Last Lower Low)
EURHKD (Long)Long Call
Trend Reversal at the bottom
Twizzer Bottom
Followed by 3 White Soldiers
New Higher high formation
New Higher low formation
2nd Higher High formation in place
Entry @ 2nd higher low formation
After Trendline is tested
Bullish Engulfing Candle on Trend Line
3 Stage target price setting
1st TP - 50% - 9.2450
2nd TP - 25% - 9.2650
3rd TP - 25% - Trailing Stop Loss
Stop Loss 9.17 (Below Last Higher Low)
EURHKD(Long)Long Call
Trend Reversal at the bottom
Twizzer Bottom
Followed by Bullish Engulfing Candle
New Higher high formation
New Higher low formation
Entry @ 2nd higher low
After appearance of first green candle
3 TP prices set - 1st TP - 9.235
2nd TP - 9.25
3rd TP - 9.265 Daily resistance
Stop Loss 9.2 (Daily support line)
Euro Hkd Trade longThe analysis is as follows:
Currently, we are in the wave five of a primary impulse wave.
What makes me believe this idea, is that there is clear alternation in the waves 2 and 4. Wave 2 is a short and deep zigzag, whereas wave 4 is a long and shallow triangle.
The wave 3 is CLEARLY extended, and this is obvious from its very shallow corrective waves, and its comparatively larger subwave divisions.
The wave 3 also happens to perfectly hit an wave 3 extended target of 2.618 the distance of wave 1.
The wave 4, only has one concerning feature. The spike through the upper boundary, could be a red flag, but I am choosing to look beyond this since it appears to be a margin call of some sort.
I believe that this will continue up until the 3.618 extension, or the 9.32136 or the 9.3330 area.
My only concern is that we have alread moved beyond the triangle thrust measurement, which is the minimum distance for the wave 5 to travel. As a result, it would make sense for the wave 5 to retrace from this point.
(This is represented by the red line)
Assuming my count is correct and this moves to the 3.618 area, I would think that it is going to move back to the wave 4 low, at the very minimum. This would provide for a very great trade setup.
Mika K time prediction technique
I have yet to use this on a triangle, but I am excited to see what happens. I am placing the end of the wave 4 at the 0.768 fib time zone, which shows me that the wave 5 should be done around 11:00-8:00 pm on april 15th. I am actively looking for ways to be more accurate with my time predictions, but for now this is fine.
And down we go HKDEURWho would have guessed that the next HKD pair was going to be bearish? I mean, c'mon... Zigzag forming now, in C Wave. Fibonacci extension gives me three goals in purple, and invalidation is in red as per usual. Remember, this is not financial advice - your decisions are your own.
