Tomorrow is Veterans Day so I am avoiding USD markets. I will be looking for a long position entry for the NZDJPY.
Since the NZD (ZXY Index) is still trending up and NZD is stronger then majority of all the Major currencies, I will be looking for it to continue dominating the JPY.
Also from top down Weekly, Daily to the 4H it is still looking to the up side. As long as price stays above and rejects the 20 or 50 EMA I will be looking for Engulfing 4-hour candle close to go long.
There is NO VALID REASON to trade against the trend.
The only pair I am looking to execute this week as a swing trade position. Targeting ( 250-400 Pips )
It could take two or 3 swings to get there. That is if and only IF I get a closed bullish engulfing body candle on the 4-hour. Will be checking this pair every four hours and the other NZD and JPY pairs.
I will also be watching for a potential divergence of the lows on the TDI. TDI creating deeper revision/pullback/correction by Price is only pulling back at the the moment 38.2... It could pull to even the 61.8... We'll have to see.
Since the NZD (ZXY Index) is still trending up and NZD is stronger then majority of all the Major currencies, I will be looking for it to continue dominating the JPY.
Also from top down Weekly, Daily to the 4H it is still looking to the up side. As long as price stays above and rejects the 20 or 50 EMA I will be looking for Engulfing 4-hour candle close to go long.
There is NO VALID REASON to trade against the trend.
The only pair I am looking to execute this week as a swing trade position. Targeting ( 250-400 Pips )
It could take two or 3 swings to get there. That is if and only IF I get a closed bullish engulfing body candle on the 4-hour. Will be checking this pair every four hours and the other NZD and JPY pairs.
I will also be watching for a potential divergence of the lows on the TDI. TDI creating deeper revision/pullback/correction by Price is only pulling back at the the moment 38.2... It could pull to even the 61.8... We'll have to see.
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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.