PatiencePays777

NZDJPY Retesting a 4h Descending Triangle

Short
OANDA:NZDJPY   New Zealand Dollar / Japanese Yen
It isn't the prettiest, but How often are they? Here we see a Descending triangle formed on the 4h hour with at least three touches. We have a candle close under that support and it looks to me like the market is returning to potentially retest that previous orange MONTHLY support zone as a newfound resistance zone to continue the overall downward trend. From a multi-time frame analysis perspective, the monthly, weekly and daily chart are all congruently in a downtrend so this retest here looks to be a great opportunity to jump on the people's trend, get some good gains and a great risk reward. Of course first, we must wait for the candlestick confirmation or however you identify trend being reversed at a zone before we enter this trade for a high probability entry.

I am not a professional, I aspire to be though, but trade at your own risk.

#PatiencePays
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