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 leave a like and a follow . i'm happy to answer any question !
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our entry has changed to 0.72538
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we didn't enter because we didn't see a rejection of the fibo line i will look for another place to enter nzdusd
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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
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we won't be looking for an entry anymore because i didn't hesitate on the fib % no trade was taken here