NZDJPY about to break-out after formation of Bullish Flag
The price index is about to break-out after long consolidation and
Finishing formation of “W” sign typical of Bullish Flag.
The bullish flag pattern perfectly moving around in two parallel
trend lines - a channel - for the buyers to regroup before initiating
a new leg higher.
As a general rule, the consolidation phase has retraced to more than
Fibonacci 38.23% plotted from prior leg higher (the flagpole). Hence,
a strong bull flag usually needs retracement between 38.2% to 50%
before breaking the upper trend line.
Long Trade entry may be considered on break-out from the consolidation
zone and formation of Bullish momentum C\S price action with RRR.
P.S. Chart Assessment is entirely based of proposed probabilities and
only for academic purposes. It is not a trade recommendation of any kind.
Please do your own assessment & research before taking decision to execute
any trade transaction.
Please Subscribe, Like and share for more Trend Analysis and Chart Assessments.
Finishing formation of “W” sign typical of Bullish Flag.
The bullish flag pattern perfectly moving around in two parallel
trend lines - a channel - for the buyers to regroup before initiating
a new leg higher.
As a general rule, the consolidation phase has retraced to more than
Fibonacci 38.23% plotted from prior leg higher (the flagpole). Hence,
a strong bull flag usually needs retracement between 38.2% to 50%
before breaking the upper trend line.
Long Trade entry may be considered on break-out from the consolidation
zone and formation of Bullish momentum C\S price action with RRR.
P.S. Chart Assessment is entirely based of proposed probabilities and
only for academic purposes. It is not a trade recommendation of any kind.
Please do your own assessment & research before taking decision to execute
any trade transaction.
Please Subscribe, Like and share for more Trend Analysis and Chart Assessments.