Let's see which route will prevail.
In case of the yellow one, I'm willing to short it around 70.00 with TP around 68.30.
If it will go blue route, there's a chance for a short term long to around 70.00 (risky one).
And if it will just flush below 68.30 ... well, will take a look then.
Daily view:
Disclaimer: this idea is solely for my own purposes, to satisfy...
NZDJPY has pushed all the way down the daily low. I see two possibilities for next week.
1) For uptrend to be respected we must not break pas the las low. For longs, I would like to see a bullish impulse and correction on lower timeframe.
2) For shorts, a break of the last low and support, a bearish impulse, and a correction wonder the support now resistance.
1) Price has broken structure at a lower time frame, wait for a retest for an entry
2) Daily EMA crossover
3) DIvergence
4) Price rejection from a major trendline
Alhamdulillah
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when you look at the daily time frame you see a reversal pattern and if you are too quick to analyse you will think it is a sell, check the 30 minutes time frame it will confirm reversal for a buy, we can only on the 2nd resistance level that is when i believe it will create a head and shoulder formation, please remember i am not a Pro or Guru i just like looking...
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👉 WE will waiting for SELL conformation:
- We have downtrend.
- MACD give us SELL signal.
- Candle close below ASIAN session.
💡 Why should you...
-Thank you for reading this idea! Hope it's been useful to you.
-Remember this analysis is not 100% accurate.Use it with your own risk.
-Comment below and let me know what you think of this analysis and what is yours? I welcome all comments, feedback, ideas and sharing of knowledge
