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EURHKD

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.
Long
by Mika_k
EURHKD Sell IdeaI spotted a beautiful setup on this one. We are just coming off of a nice long up trend. The market structure has shifted nicely into a down trend after breaking out from distribution previously. Price plunged to the down side on the breakout and has created a very nice up bear flag as it pulled back up to retest the bottom of the range. That along with confluence from the MACD hidden bearish divergence confirms that price remains very bearish. We can see price is already rejecting at the top of the flag. To confirm we need only wait for the breakout. There a couple ways to enter. You can enter now and put a stop above if you are aggressive or you can wait for the breakout as stated previously. One more option is using a sell stop order below the flag to catch the breakout if you are unable to monitor your entry. Should be a beautiful trade with nice drop if it plays out as predicted. Always manage your risk and use a stop loss. This is for entertainment purposes only. I am not a financial advisor. Trade at your own risk. Good luck!
Short
by BluePipSquad
EURHKD: Long term sell. Choose the entry carefully.This pair is trading on a long term 1W Channel Down (RSI = 45.188, MACD = -0.052, Highs/Lows = 0.0000) with clear Lower High entries and an obvious 8.7850 Support. The price has just entered the neutral territory so there is still potential to rise a little further before resuming the underlying bearish trend. We estimate the reversal point to be just above the 0.500 Fibonacci level. TP = 8.7850 (the 1W Support). ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
Target hit. Lower High on the 1W Channel Down. Short.TP = 9.2050 hit as EURHKD moved sideways before the Channel Down selling pressure pushed the price lower. The pair is still being traded within a long term 1W Channel Down (RSI = 41.770, MACD = -0.084, B/BP = -0.2478) with the neutral Highs/Lows = 0 suggesting that a Lower High has been priced. As you see on the chart that value was probably yesterday's 9.1235 High. As a result we are going short now with TP = 8.9500. See how for the time being the pivot line supports.
Short
by InvestingScope