Dramatic sale off on the stock markets due to the situation in China has caused the unstable situation on the currency market. Market rhythm needs some time to look better. Graphs are choppy. The following below is the transaction on GBPNZD taken this week.
Have you learned to be patient already?
Timing is crucial. Especially traders need patience.
GBPNZD
Two impulses in down trend seem the same. Preferably correction has come to an end (see Fibo levels). Uptrend is favorable up to next Fibo and PA level.
Unfortunately due to choppy market the trade has hit SL. See three times TC pattern. Screens are made after some time. Setup resulted in good trade judgement.
Exercise. In the following entries I will try to check the historical setups in 2015 for several currency pairs.
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