NZDJPY
Long Setup
A clear bullish impulse wave. According to EW Theory, wave 4 is usually a corrective triangle formation. Hence, a 5th wave is anticipated soon as price has already broken out of the triangle to the upside.
Some analysis state that it is a forming a Head and Shoulder pattern, this setup will only be valid once price breaks the neckline of this structure.
Long Setup
A clear bullish impulse wave. According to EW Theory, wave 4 is usually a corrective triangle formation. Hence, a 5th wave is anticipated soon as price has already broken out of the triangle to the upside.
Some analysis state that it is a forming a Head and Shoulder pattern, this setup will only be valid once price breaks the neckline of this structure.
Trade active
Trade closed manually:
Closed with +73 pips
Comment: