I and the Alkaline team got involved in an early buy position on this pair which has been extremely rewarding. I will be looking for a second buy position into the significant structure marked if we manage to see rejections from the horizontal ray, let's see how price develops on Monday. Have a great trading week everyone!
COT Data - 50/50
A break of correction will indicate strong chances of taking the sell back to the bottom.
SL is slightly higher if you got in on the break, I can see this coming back up to test below the small zone around 61% fib which would give even greater R:R at 5% I will possibly watch how this plays looking for that pull back for a nice tight R:R
Also notices a hns...
As you can see from the analysis here. NZDJPY respects the daily level of70.036 very well. I have marked these areas out in yellow where price has reacted purely off these. If you look at the trendline we currently have we can see that the pair was on the rise. You can see where the red box is where we lost the trade as we expected more upward movement. With...
I and the team have got involved in a buy from this significant order region marked, we are already seeing wick rejections and I expect continued upside if we manage to clear the box. We just need to sit tight now and wait for the market to do its thing.
COT Data - 62% Short