NZDJPY - 2H - Cyhper at major support area
Updated
NZDJPY is retesting a major recent support level, so i was looking for buy signals. this cypher is far from nice (C a bit overextened) but on a daily timeframe its still a valid cypher. regardless, i wanted confirmation befor goin long, yesterday we saw the first atempt of a breakout from the downward channel, followed by downward consolidation. you can trade the breakout if you like, but my tradeplan is the blue dotted line - so break and retest.
Note
here the daily timeframNote
Note
price is following the blue line nicely. i wanna stay a little bit more patient and wait for price to fall a little more so i can take easy 1:1 profits before retesting the highs we made after the breakout. tg2 will then aim for trendcontinuation following the dotted line further.
Related publications
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.