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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 ...
here on NZDJPY we've just tested a very important level on the daily timeframe, while creating a double bottom with RSI divergence on the lower timeframe (4H). This is a clear sign of reversal and could point to a change in trend on a long term basis (especially in the location we're). One of the way that you can trade double bottoms is by waiting for a ...
We can be looking at a possible breakout on NZDJPY towards the upside.
this is a Bat formation that's setting up on NZDJPY, and i'm seriously interested in join it because the yellow box represents a previous level of daily structure. Therefore i know that could be a place where we could potentially have a reaction from price action. In this case, order's set at D, stop below X, targets with Fibonacci (382 and 618 of ...
i've already predicted this rally on this pair a while ago. Now i'm assuming price will continue in the upward direction till it will reach a major structure level. However, with such a trending market it's difficult to get a decent retracement in order to hop on the trend. That's why i'm using this kind of simple pattern formation (flags, triangles, ...
i do not usually use trendlines in my analysis but sometimes they are useful in order to catch the early stage of a reversal, along with usual structure. The black line represents a strong daily structure that rejected price action as soon as it touched it. Therefore i'm assuming this could be a key point for a big reversal.
Now, in this cases i wait for ...
here it's an Head&Shoulders pattern on NZDJPY. I'm very interested on this cross because i think we have a nice rally ahead. On the daily price has formed 3 consecutive candles with buying pressure and we also have a divergence on the RSI. I patiently waited for a break of structure as a confirmation and that happened today.
Now there are two levels where ...
Going Long on NZDJPY, using 8 Hour TF
just want to inform you about what's on my radar this evening: this is a Cypher formation that's about to complete near to a daily structure level and a psychological number.
I think this could be a good idea to buy the market.
Stops below X, targets as usuale on pattern at .382 and .618 retracements of AD leg.
If you have any question, feel free to ...
this is a very basic concept of a structure trade. As you can see above on NZDJPY price just came out from a consolidation period and put new structure highs. At this moment i know my bias would be long; but i can't enter a trade long on the top of the movement, i should wait for price to give me a better entry in order to catch the upward move.
on h4 it is only at level 1 looking to go to level 2 for over 600 pips. I want stop hunt low by market maker to retest zone before heading long
See chart for reasoning.
FX:NZDJPY key support is being broken, price is way below both EMA's the trend line has also broken so price should jump up soon.