17 Dec. Looking at the 4 hour there is a potential BF in the making,
and somthing similar on the daily. So it may be possible to
squeeze a few more pips on this if these pan out. Perhaps some resistance ahead 1.0360 area.
GTA - arco
The Looney has touched the target resistance mentioned
giving a sit and hold profit circa 750 pips to date
I think its time to look at Loonie again for some more
rich pickings. I went short at 1.0129 which gave a max
of 254 pips, but now there appears a reversal afoot which
should give another opportunty to go long for a few,
and then go short for a lot more.
Potential here IMO to ride up to the 1.0129 area again
for circa 150 pips, and then a short down to the
PTZ (lower green box).
Ichi talk.
Tenkan (blue) has crossed Kijun (red) - bearish, and
Kijun should now provide resistance. Chikou is finding
support on the candle plot (circled) and may do so for
a few days. After that it should break through and Loonie
will do some Kumo surfing to eventually poke through the
bottom of the cloud and hopefully give 600 pips +/-
Loonie looks interesting for a continuing north move to
the first blue box (creating the potential Blue Gartley).
The target point sits just around the apex of the triangle
circa 1.0086
So, 2 potential ways to trade this pattern IMO.
Long on a confirmed break of the pivot high for around 80+/- pips.
And/or short on a confirmed reversal off the Gartley/apex
for upto 300-450 pips perhaps.
Be cautious that the Blue Gartley does not run on to the
higher dotted blue box to form a BF
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