After testing daily resistance, we saw a bearish engulfing close on the daily... Breach of 4hr Support could see price make it's way down to weekly resistance... - RSI Divergence shown
Wait for price to breach 4hr resistance level.
NZDJPY - Potential short here, Higher timeframe exhaustion. wait for push, enter on completion of exhaustion with price action confirmation
Reversal potential here, I will be waiting for consolidation/accumulation, followed by a break to the downside. Enter short on the retest. Risk entry can be taken at the highs of the structure that could potential form here. Anticipating Short, still natural at the moment. will post updates...
Wait for completion of exhaustion before entering short.
Monthly Buy Sensitivity (Double bottom?) also, not testing weekly trend-line yet. @Captain_walker
For entry, wait for retest of Key Support, wait for price action confirmation the 1hr
Pattern setup, wait for trendline confirmation with price action
enter after retest of trend line/resistance
short analysis
Potential reversal at weekly resistance. not personally taking this trade.