Simple trend reversal trade on NZDJPY. Bearish momentum seems to be gone and price has broken up and made new highs now with price breaking the bearish TL.
I am entering long on the 0.618 fib retracement with a target of a new higher high around 72.800 and maybe higher.
NZDUSD has finally broken the long bearish 4hr trendline and made higher highs. Price has also clearly broken and closed above the 4hr 50ema which was providing a dynamic resistance to price over the past few weeks.
I am looking to go long on the next pullback to retest the broken TL or 4hr 50ema.
I have the fibonacci retracement tool on the chart to provide a...
Here is my simple trendline break, long trade set up on GBPUSD
The recent 4hr/daily bearish trendline has now clearly been broken and price has tried to form a new high on the 4hr timeframe. Price also broke back above the 1.30 key support/resistance zone.
I am looking to go long on a pullback and bounce off the broken TL and Fib 0.5/0.618 retracement levels....
NZDJPY Short set up after last weeks lovely bearish action.
4hr bullish trendline broken.
4hr lower low made last week.
I am shorting on the retest of broken trendline, multiple rejections of the Fib 0.618 level and lower high forming.
SL comfortably above 0.786 Fib
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...
On the higher timeframes such as the daily chart we can see that NZDJPY seems to be consolidating between 75.00 and 76.50.
We can see that on Friday price closed giving us a decent low test candle on the daily bouncing off our support level (75.00) forming a beautiful double bottom pattern. Ideally we would of wanted the body of the candle to be smaller or a...
4hr chart showing a counter trend trend line break with commercials at all time high in short positions. This could lead to WTI falling back to $60.00.
Looking for short opportunities down to this area.
Happy New Year. Please like and subscribe if you want more analysis from me...
I suspect that this market is going to continue to find plenty of support at the 1.25 handle, and then again won’t be able to break out to the upside, at least not for a significant move. The next couple of days are going to be very choppy and sideways, so therefore very unlikely to be...
1.Daily Trend line Broken
2.Support Broken Resistance Valid
3.Profit margin 1:3
4.Price action high on the curve
5.Strong price action move up to the zone
1. There are numerous support (minor)v obstructions