TRADESBYZION
Long

NZDJPY 115 PIPS OPPORTUNITY

OANDA:NZDJPY   New Zealand Dollar / Japanese Yen
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A - UPTREND
B - DOWNTREND
C - POSSIBLE UPTREND


QUICK BRIEF


We have here a general uptrend for the last couple of weeks, with multiple break throughs, I've marked the last ones ( B & C ).

During this weeks trading session, we had a break to the downside as you can see, breaking the UPTREND A, with a double top confirmation hours before the break through, and starting the DOWNTREND B during friday trading session.
On the last 3h of the trading week, we had the break through to the UPSIDE, with a possible UPTREND C.

I've marked the previous support with the light red line, setting an alarm on my green line ( because i might have to adjust my STOP LOSS to the dark red line, or either ENTER this position. )
This pair is crealy cruising through up and down channels, and according to the daily, 1H and 4h charts, all ods are in favor of this up channel .

I will keep a closer look when the pair approaches my TAKE PROFIT, because if it breaks through the RESISTANCE, it might keep its way up, maximizing the TAKE PROFIT PIPS.

This LONG position will be triggered by

- Re-testing the green/red lines,
- Breaking through the upper line on my bulish channel.


So,
NZDJPY

buy


SL 70.031 ( 47 PIPS )

TP 71.649 ( 115 PIPS )

Comments

At 70.496 you have a mild confirmation which you need to break before assuming that the trend will repeat itself in the same manner. What about using a large time frame and exploring extension indicators?
+2 Reply
TRADESBYZION AND_CAPITAL_LLC
@AND_CAPITAL_LLC we will see mate, we will see ...
+1 Reply
Good analysis for me
Reply
TRADESBYZION Vdibbidon
@Vdibbidon I might wait a couple hours just to see how this pair reacts :D
Reply
Vdibbidon TRADESBYZION
@TRADESBYZION, how about now ..it’s going bullish right
Reply
TRADESBYZION Vdibbidon
@Vdibbidon it is . Perfectly within the channel ✅
Reply
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