Navigating NZDJPY: Exploring Bullish Prospects
Updated
NZDJPY is presently exploring the Point of Control Zone for this month, presenting a potential bullish opportunity. The strategy involves validating the market's response to this zone, anticipating a rebound towards the 90.800 highs.Key to execution is monitoring volume dynamics, serving as a crucial entry signal. The volume's confirmation will provide insights into the market's consensus on the desired price direction.
My bullish bias for this market came from the Daily Chart that show a significant rejection on the 90.200 level. As always, remember to react, don't predict. Cheers
Trade active
Signal for Bullish Trade confirmed by 1H Candle Close and Volume.Candle profile looks kinda ugly though(not a perfect Bullish Hammer/Bullish Pinbar. still gonna take this signal.
Trade closed: stop reached
The market managed to reached the 1st Target TP @ 90.800 early Monday, and followed by a big move to the downside prior to BOJ news.
Note to self: be conservative and respect recent highs and lows, don't hesitate to take your profit, likewise, let go and move on when your stop is reached. Have discipline and responsibility to update and close all ideas published, whether it is a win or a lose. for it every trade is a puzzle piece in these continuous learning trading journey
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