This pair has recently bounced off a major daily support (red zone) and has started the 4th leg of the Harmonic Bat Pattern. We are predicting the Harmonic Bat Pattern will be completed and we are looking for price action to move towards the upside from this point. A trend line on the 1 hr chart has been breached giving our analysis and strategy validation. We...
Price had respected the resistance level last week and dropped hard after the NZD interest rate was announced. Since then price has pulled back to the 61.8% Fibonacci retracement level and printed a sell signal (long legged doji) I have subsequently sold at market price @ 75.776 with # stop loss higher up where I deem this setup invalidated @ 76.041 and # take...
The resistance level has been holding well and the support trend line broke on Friday indicating possible change in the trend. I will be looking to sell IF the following conditions are met: I have marked with the yellow bar the 50 and 61.8 fibo levels based on the last bearish move. I want to see if this level will be tested and IF a sell signal prints, to...
Respected followers, on daily chart I have found long trend line which indicate bearish mode on NZDJPY. Risk is too small but reward is too big. Its very nice trade to take with little risk to gain big profit. Best of luck
FX:NZDJPY Sell order opened @ market price 76.878 1. Trend line broken 2. Trend line & resistance tested 3. Inverted hammer printed (sell signal) Stop loss just above the high @ 77.373 Target just above a recent high @ 75.782
This pair had reached a key resistance level last week - 75.525 Since then price has rejected the new high by popping a wick to the up side pinning the resistance level: 1. I have noted the swing low at 75.000 as a short term support level 2. Note the marked support lower down at 74.400 3. As long as price is between the 75.525 and 75.000 range I will wait for...
Opened A Sell Trade On This NZDJPY Pair On The Basis Of Trend Continuation. Follow Trade? SL at 78:55 Levels
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