Roker1
Long

Long on NZDJPY - Structure trade

FX:NZDJPY   New Zealand Dollar / Japanese Yen
Hi guys,

there are several reasons why i'm going long on this pair. For starters, price is testing a very important structure level that you can see both on the daily and weekly timeframe , and in doing so it's creating a nice divergence on RSI on the daily. Moreover, if we lower a timeframe, we can see on the 4HR that we have two engulfing candles (one after another). The final clue comes from the hourly timeframe where there's a double bottom with RSI divergence broken to the upside.
I'm going long with stops below the low and targets as showed.

If you have questions/ideas, feel free to share them beneath.
Otherwise, see you in the next chart!
Trade closed: target reached: First target hit. Stops moved to breakeven
Trade closed: target reached: Second target hit!
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
You think it could go long from this zone?
+1 Reply
Roker1 JordanWillson
@JordanWillson, i'm already long from the blue line
Reply
@Roker1, nice!
+1 Reply
Roker1 JordanWillson
@JordanWillson, thanks!
Reply
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