NZDJPY - PipsPayTheBills - PriceAction - Daily Time Frame
NZDJPY - PipsPayTheBills - PriceAction - Daily Time Frame.
For those that attended the session yesterday. This is a classical example of drawing S&R and TrendLines.
Red Line is the Weekly Zones,
Blue Line is the Daily.
Greens Line is for 4H.
Note that we give respect to those lines in that order.
After the drawing, what can you see?
A downtrend as the Bear Fractals are being broken. You can see that the last bear fractal couldn’t break the previous one. A sign of reversal or pullback or price correction or ranging market.
We said until the bull fractal is broken , we wont accept that price is changing direction. Price is currently at the Bull Fractal Zone. The Last candle got rejected close to the bull Fractal. The current candle is having the same experience.
REMEMBER 3 THINGS WE NEED FOR A TRADE.
- LEVELS
- SIGNALS
- TRIGGER
BEAR OPPORTUNITY -
We are currently at a level, we are seeing the signals of bears but no trigger yet. A trigger will be a complete rejection of price at that level with a bearish engulfing bar. I will take a short trade to D. Stop Loss will be 3 pips above the bull fractal candle. Remember we talked about how to set a professional and sensible Stop Loss yesterday. Dont be like others who just set Stop Loss for no technical reason.
BULL OPPORTUNITY -
We are at a level. We have no signal and trigger. Signal will be a breakout upward of Zone B and the Bull Fractal Level.
Aggressive entry is a BUYSTOP 3 pips above the bull fractal candle
Stop Loss can be set in any of these options:
- 3-5 pips below the candle that breaks the B Level and Fractal.
- 3-5 Pips below the Fractal Candle we are breaking.
- 3-5 Pips below the Zone B.
Conservative Entry.
Wait for price to break B and Bull Fractal. Let it come back to test the Level Again and trade a buy.
THIS IS HOW WE TRADE . . . . . . . . .. . .
Dont rush, let price come to meet you at your LEVEL, look for SIGNALS, wait to pull the TRIGGER. This is where you get the most juicy RISK TO REWARD Ratio.
For those that attended the session yesterday. This is a classical example of drawing S&R and TrendLines.
Red Line is the Weekly Zones,
Blue Line is the Daily.
Greens Line is for 4H.
Note that we give respect to those lines in that order.
After the drawing, what can you see?
A downtrend as the Bear Fractals are being broken. You can see that the last bear fractal couldn’t break the previous one. A sign of reversal or pullback or price correction or ranging market.
We said until the bull fractal is broken , we wont accept that price is changing direction. Price is currently at the Bull Fractal Zone. The Last candle got rejected close to the bull Fractal. The current candle is having the same experience.
REMEMBER 3 THINGS WE NEED FOR A TRADE.
- LEVELS
- SIGNALS
- TRIGGER
BEAR OPPORTUNITY -
We are currently at a level, we are seeing the signals of bears but no trigger yet. A trigger will be a complete rejection of price at that level with a bearish engulfing bar. I will take a short trade to D. Stop Loss will be 3 pips above the bull fractal candle. Remember we talked about how to set a professional and sensible Stop Loss yesterday. Dont be like others who just set Stop Loss for no technical reason.
BULL OPPORTUNITY -
We are at a level. We have no signal and trigger. Signal will be a breakout upward of Zone B and the Bull Fractal Level.
Aggressive entry is a BUYSTOP 3 pips above the bull fractal candle
Stop Loss can be set in any of these options:
- 3-5 pips below the candle that breaks the B Level and Fractal.
- 3-5 Pips below the Fractal Candle we are breaking.
- 3-5 Pips below the Zone B.
Conservative Entry.
Wait for price to break B and Bull Fractal. Let it come back to test the Level Again and trade a buy.
THIS IS HOW WE TRADE . . . . . . . . .. . .
Dont rush, let price come to meet you at your LEVEL, look for SIGNALS, wait to pull the TRIGGER. This is where you get the most juicy RISK TO REWARD Ratio.
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.