Scenario #1 IF BULLISH NZDJPY NZDJPY pivotal support/resistance zone at 85.50-70. This 85.50-70 zone has held as support or resistance since Dec 2013. There are 2 ways to trade this. If you are bullish NZDJPY, then buy in anticipation of another rebound up from this zone. Long NZDJPY 85.50-70 SL below 85.00 TP1 87.00 TP2...
The New Zealand dollar fell broadly on Thursday to its weakest level since September 2013, after Reserve Bank of New Zealand Governor Graeme Wheeler said that the real exchange rate remained above sustainable and justifiable levels. I suggest buying dips NZD/JPY pair at current levels.
Simply put your comment about your opinion
we need to get a bit higher first to trigger this one. But orders are already prepared.
NZD/JPY formed an inside bar candlestick pattern at the mid band of the bollinger band and there's another bullish pin bar candlestick pattern after the breakout of the inside bar candlestick pattern which shows more buyers are coming in. Note that the stochastic indicator was showing oversold at the time the price formed the inside bar candlestick pattern which...
NZD/JPY printed an inside bar plus a bullish engulfing bar combination of candlestick patterns on the chart. The long term trend is still up as the short term moving averages (10 and 20 period) are above the long term moving averages (50,100 and 200 period) and the Tenken-sen has just crossed above the Kijun-sen showing the bulls might be accumulating position...
In 08/09/2014, NZDJPY pair could beak 87.500 which was resistance for its recent channel. In my opinion, 89.00 would be seen by next 30 days or some days more. the most important thing to achieve this target, the pair should trade upper 87.500 for next 3 days. As update, in 20/09/2014 NZDJPY pair almost very closed to our target during 10 trading days which is...
These two are hanging around for quite a while now. Will they ever trigger or will price action prevent that with a drop?
Waiting for next week setup with options: ++ if price break the resistance line, setup win for bull but need confirmation to prevent false breakout, this can be solve by identifying price retest. ++ else, price break the support line, setup win for bear and confirmation is based on the main trend which is down trend. ++ also, need to watch out incoming news...
NZDJPY has formed a descending channel. The descending channel is a price action that usually results in a breakout to the upside. Though this classical pattern always is self-fulfilling, we may use another technique to confirm the breakout direction. Whenever there is a channel formation, descending or ascending, a third line parallel to the channel can be drawn...
still believing in this short. Previous position not SL yet, and currently new channel has appeared which shows h1 divergence as well. there is a sort of channel within channel, but the real move can only come if it clears ~ 87.12 .Adding on shorts at higher positions.
Continuation pattern setting up in nzdjpy. JPY weakness failing to be crystallized here due to fellow weakness of NZD (weakest of commodity currencies). However, a decent risk/reward play could be setting up with a long position favoured if a daily close above 87.50 level targeting previous highs of 89.50 region and thereafter further upside if that level is...
Besides the 3 Long Patterns (Cypher, Gartley, Butterfly) there are also Long entries via Patterns. A Gartley and a Bat could be in the making.
on the h4 timeframe, I can see a possible right shoulder being formed and I will be keen to reenter on the downtrend via the hns formation. on h1, I will be relying on my usual channel setup, and looking for it break. I am happy when i see h1 divergence appearing. So far I have been short, then long and now short. Perhaps I have been playing all legs of NZDJPY and...
Friday's price action rejected a key support/resistance level. I'd like to see an authoritative bearish bar on Monday to confirm the down move.
That is interesting. Two potential Patterns (Bear Bat and Bear Butterfly with the same entry Level) and a good risk reward for the risk-reward ratio I take the middle of both targets (= 50% retracement) to calculate it. Just my way of doing it...
NZDJPY is moving in a channel towards resistance at 97.00 handle in confluence with 0.764 FIB Ext at 96.45. NOTE: Last time it reached this level was in July 2007
LTF h1 bull flag broken at the bottom with macd divergence. I am using RSI instead as macd is not provided here.