Price action fund rejection from the strong level drawn from W1 timeframe, being able to manage a breakout from the trend line, and retest of the level changed the reading of the previous post from a short-entry to a renewed long position. The pair bullishness is supported not only by the price structure but the MACD and smooth sloping up from the 200MA The...
Price action is coming from testing a critical resistance level from a downward trendline at W1, as expecting the price to continue bearish until next support level, H1 is finally showing an LH after a strong rejection from 200MA suffered by the previous high. Together with MACD in a clear bearishness, for a short entry as follow The order: Type:...
this pair might not be ready this week, but it is setting up for a good short if that flag structure develops during this week. Will be monitoring this throughout the week. There is a possible drop through the support floor, will be looking out for that possible outcome for an entry.
Trade Idea: Previously, buyers have been trying to push this pair higher and above 200EMA, but we can see major sellers stepping in after price has reached the 200EMA (as highlighted from the green circle). Last week, we saw a significant push from buyers once again and breaking thru the 200EMA and now price is consolidating between a major and minor S/R zones....
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As shown in the chart, a short term bullish move can be expected in NZDJPY, especially after positive news came of NZD's CPI announced earlier today. A short term upward move with the next resistance 65.050 levels can be expected.
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If you already have a trade on yen(jpy) don't double up your risk....!
Hello guys OANDA:NZDJPY has broken the neckline and is now showing downward reversal pattern to the target 1 zone.
Can NZDJPY trade toward 66.90 and higher once we get a clean break of this wedge into the Month of April? Given the volatility within the markets currently, this will be interesting to see.
NZDJPY Trading Plan BUY - Riks Reward 1:3
Earlier Idea is Daily, this here is 4Hr-- Not that much of a difference-- 59.391- 65.18 is all time Buy-Zone. Price above 65.18 will be above trend-line (positive territory) not included on chart. Note: Idea is to complement your research. Check comments section for future updates on idea. Like this idea? Like, Share, Follow, and Support channel for...
Idea is to complement your research. Check comments section for future updates on idea. Like this idea? Like, Share, Follow, and Support channel for future content. Thank you and happy trading.