Hi everyone,
New Idea Trading Short NZD
Market Structure: Bearish
Bearish Chanel: OK
Below Moving Average: OK
Break Trend Line and Support: 0K.
Target= 0.97358
Stop= 0.6550
Risk 1%
I am looking to short NZDJPY.
Originally price was making a higher highs and higher lows.
Price then entered the monthly/weekly resistance supply zone.
Price than formed what appears to be a double top, and price has been unable to break through.
Also a double top at the end of an uptrend can serve as a bearish reversal pattern. That along with price...
Take a look below you will see the previous analysis of this pair.
Originally price formed a double bottom.
Price retraced to the neckline as expected.
After the retracement priced formed a doji on the daily (signally a possible reversal after the downtrend/sell of).
This area was near 61.8 fib level, which is where price respected and found support at this...
I think NZDJPY, is a bearish swing trade. I'm expecting price to continue the continuation and create a right shoulder for an IHS formation on the monthly timeframe.
The pair has formed a triple top in last months and now it will drop towards the 200-day simple moving average at 68.8, it could be the first target of the bearish impulse because if that moving average will be broken nzdjpy could reach even 66.00 which is one of the most important support zones.
New Zeland economy is not performing very well and the RBNZ will...
Hello Traders,
Price is struggling at the top and forming reversal pattern, we also have divergence on macd. Look for sell as much higher as you can.
Good luck!
Cheers,
Jonas
Hello Traders,
Price didn't respect the trend reversal pattern and formed a new high, Now we saw some impulse to the down side and trend continuation is forming. Watch to sell as much high as you can.
Good Luck!
Cheers,
Jonas
Similar fundamental reasons underlie my bearish bias on the Kiwi. The bidirectional monetary policy impacting rate differentials being the most meaningful.
Further, technically, one would expect some material levels within the next handle, as evidenced by my red support line which roughly marks out the neckline of a head and shoulders top. Finally, with the MACD...
Also as additional technicals to support the short NZD$ view:
1. On the daily, weekly and H1 NU currently Trades (and at 0.73) close/ at to its +2 standard deviation lines, these are highly resistive.
- Assuming NU trades mean reverting +2SD means there is a 95% chance of a price reversal/ 95% of all prices should be below the +2SD channel lines (e.g. NU...
Also as additional technicals to support the short NZD$ view:
1. On the daily, H1 and weekly NU currently Trades (and at 0.73) close/ at to its +2 standard deviation lines, these are highly resistive.
- Assuming NU trades mean reverting +2SD means there is a 95% chance of a price reversal/ 95% of all prices should be below the +2SD channel lines (e.g. NU...
