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...
If price respects the rising wedge, then we should see a market turnaround & reversal to the bearish direction.
Price seems to already be falling according to the H1 timeframe but we wait to see a confirmation candle and a retest of the support line.
What are your thoughts?
By looking at the M TF i can see that the sentiment is indicating that this market is overbought, nevertheless i can also see on the 8 TF that LH and LL are being formed which suggests that this market has a chance of going lower. My target for this trade would be 76.000 to the next support area.
my usual analysis starts from higher timeframes such as the daily. There i've highlighted a key level of structure looking left, a resistance area that could stop the price's rally. As i go down on lower timeframe such as 4h i can see there are two tests of this specific level (also a psychological level, 79.00) both failing in making new highs. This...
after being correct in predicting the upward move on this pair (see attachment) we took our profit near 83.00. Now i changed my mind, just watching price action. I'll explain you why.
Basically we are testing a strong resistance zone, both in the daily and in the weekly, therefore we could expect some strong resistance here. In addition to that, we also...