This is a potential long on the NZDJPY pair. Daily has just broken out of a very significant weekly trendline which came out of a bull flag- Usually I would take the entry off the bull flag but with significant resistance (the trendline) sitting just above it I wouldn't dare.
Price could retest the trendline and shoot up, or it could reverse and find itself back below the trendline. A more aggressive move would be to go long off the close of the daily candle but I prefer to see a retest on ones like this which I've shown using the arrows.
Price could retest the trendline and shoot up, or it could reverse and find itself back below the trendline. A more aggressive move would be to go long off the close of the daily candle but I prefer to see a retest on ones like this which I've shown using the arrows.