Looking to enter LONG on NZDJPY using Swing Reversal / Early Trend Following.
Price has broken the downtrend as shown on the trendline break and now on the early uptrend.
Price retested the 20 SMA which is the entry filter and closed with very strong upward momentum on the previous daily candle.
The retest also happened within the 23.6 Fibonacci level.
Will enter at the 50% level of the momentum candle with TP and SL marked on the chart.
This setup is also a break and retest of the failed Head and Shoulders.
Price has broken the downtrend as shown on the trendline break and now on the early uptrend.
Price retested the 20 SMA which is the entry filter and closed with very strong upward momentum on the previous daily candle.
The retest also happened within the 23.6 Fibonacci level.
Will enter at the 50% level of the momentum candle with TP and SL marked on the chart.
This setup is also a break and retest of the failed Head and Shoulders.
Trade closed: stop reached
Trade closed. Positive SL hit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.