Looking at a bearish trend continuation on the 1HR timeframe. Using an ATR based stop position above the recent high and a fib retracement to map out a minimum 1:1 trade. Wait for a lower low lower close candle in the red zone for confirmation of entry and set targets at a re-test of the recent low at 71.50.
as we can see here on the NZD/JPY chart that the market has been previously trending within a downward funnel and has been trending with strength and testing and being rejected at the trendlines to go approach the other one. at this moment in time, the market has broken down past a support trend line and has a couple of strong daily candles moving to the downside,...
NZD/JPY - potential long opportunity. If the market retraced back down to the lower support level. A long (buy) opportunity will then become available. As you can see from the chart analysis. This currency pair has bounced off this support level, every time since 2009. this further supports a possible long entry.
If you would like to find out more about our...
DAY TRADE - EXPIRES AT 9PM
A bullish reverse Head and Shoulders has formed.
Bespoke support is located at 72.25.
Positive overnight flows lead to an expectation of a firm open this morning.
Dips continue to attract buyers.
Further upside is expected although we prefer to set longs at our bespoke support levels at 72.25, resulting in improved...