Clean Trend on NzdJpy 60 but overall at support on the HTFs so only looking for a retest and no extensions to the downside, decent strength on the RSI aswell
Small counter trend opportnity to catch around 10 pips bouncing and rejectig of resistance currently. Being overall in Consolidation I wouldnt look for targets past that minor level of support.
The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.
If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 70.60
• Take Profit Level: 70.00...
NZDJPY has shown great bearish momentum and currently retraced into a continuation pattern. We may see price continue to our take profit level.
Stop loss - Red price level
Take profit - Green price level
Remember you must manage risk, only risk 1% or 2% depending on your risk tolerance. There is no such thing as a guaranteed win in trading. What you have is...
NzdJpy providing a potential shorting opportunity. I would be looking at a short in the higher red zone if we get a pullback and look to continue the short term downwards move for a retest of the lows at least.
NZDJPY Daily
Simple break and retest scenario, and daily candle is about to close as a bearish engulfing.
Wait for pullback then sell!
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past profits do not guarantee future results, so...
You don't need to be Einstein to see how strong of a level this is, but just in case you are brain dead we have pointed it out with lovely purple arrows ;p
This level has been used as strong resistance and now price is coming back down to test this as support, we can see a bounce and a bullish run coming, and we think it will be a very angry bull... so run for...
NZDJPY break and retest of a bearish symmetrical triangle.
Resistance at the 0.618% monthly fibonacci retracement level.
Trading below the 800 EMA.
NZD indicating as currently strong, with JPY gaining strength.
Ideal entry would be at 76.500 support & resistance level.
Swing trades targeting for the 76.000 psychological level with a potential intraday trade...
NZDJPY has shown signs of a reversal at this level for a while now. The daily resistance zone @ 76.500 is holding strong and we finally have a break of the 1hr bullish trendline with a lower low being made.
Price has now pulled back a little and is rejecting the 1hr 50ema from below. Price is also below the daily pivot level so that is a another potential...
I am currently in a short position on NZDJPY based on the rejection retest of the broken trendline but this is another opportunity to short this FX currency using my simple day trade method.
15minute flag pattern forming
3rd touch of top TL rejecting daily pivot
Lower high on the 15min chart
Rejection of fib 0.618
SL is 10 pips above the current high.
I have 2...
Break of Trendline + Bearish flag pattern, using an intraday entry technique off the 50% fib level which has nice confluence with my zone, slightly wider 20 Pip SL when compared to my other intraday entries to ensure i will still be in this trade should it rally up and test the 0.618 fib level and liquidity zone. Targets are at the 0.618 fib retracement of the...
I have been waiting for a decent long term short entry on NZDJPY for some time. Since the original sell off at the end of last year, price as been correcting and forming a large bearish wedge continuation pattern on the daily/4hr chart.
We have now seen this wedge broken out of to the downside with a 4hr lower low made.
I am now looking to enter on the next 4hr...
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