We're currently in this trade for a short term Long position with 60+ pips locked in,Looking for multi touch on resistance line before entering for a Short opportunity. Larger structure showing an impulsive movement to the downside, we entered on the flag, when TP hits, we will be looking for a continuation to the down side. We will however be anticipating the...
NZDJPY has been in a fairly steady downtrend for a long time, and recently started to fall after retesting a long term trend line on the weekly charts.
If the lows break the next support is 63, and if this breaks 50 - 45 area for next targets. This is a huge percentage drop on this with its current price at 70.
NJ here. This pair has failed to break this resistance level for over two weeks now, with a correction over the past few days due to the corona virus manipulation it has come up too a level of interest. Upon a daily candle closure forming as a shooting star, doji or spinning top, I will be looking to take short trade from the purple box region. Taking partial...
Looking at this pair it is reaching a sensitive region we could either see a bounce, break or go into consolidation, we shall be patient before acting upon this trade and let Price Action show us what it wants to do, (NO FANCY SH*T, BASIC PRICE ACTION!)
. There is a possibility of temporary retracement to suggested support line (70.60). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
after breaking a double top and getting some good bearish momentum and breaking a new trend i will now wait for either a retest or the counter trend IE flag or wedge to confirm my next move or we reject from any fib levels still has some nice RRR in this trade
just wait for the right time don't rush a trade!