NZDJPY H4 SHORT PRICE ACTION FORECAST
With the price in consolidation within an ascending channel, wherefrom a W1 outlook price has just found rejection from the resistance trendline, under a bearish bias, allows for the following setups:
Position 1:
Price continues to form the channel reaching the resistance level with a buy-limit order
S/L: 145 pips - R:R | 1:3
T/P: aiming towards the demand zone
Position 2:
Price can manage to breakout support line form the channel, triggering order with the following price correction with a buy-limit order
S/L: 120 pips - R:R | 1:2
T/P: aiming towards the demand zone
Position 1:
Price continues to form the channel reaching the resistance level with a buy-limit order
S/L: 145 pips - R:R | 1:3
T/P: aiming towards the demand zone
Position 2:
Price can manage to breakout support line form the channel, triggering order with the following price correction with a buy-limit order
S/L: 120 pips - R:R | 1:2
T/P: aiming towards the demand zone
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