Pairs on Watch -
GBPJPY : Looking for a small 5M stack in price here to mitigate a tag in and out from what I explain in the breakdown. Lessons learned from the start of this year is helping me gain clarity on the finer details of price, but a simple long play here after the sell structure below failed.
EURNZD : If we look at the psychology of price and the message it is giving us, we can see the sell structure below failed to continue after the impulsive move. Therefore, we can now look for a 15M continuation for the longs now we have an impulsive confirmation to the upside. Risk entry within the structure and manage into the value area above.
NZDJPY : This pair and NZDUSD are very similar in terms of price action and the setup I am looking for. Price has pulled back 50% of the prior leg, 4H limit is now active and dropped through so we can now look for any type of continuation to confirm the idea. Great range to play down to the low.
NZDUSD : A very similar idea as NZDJPY here. A simple continuation now that price has followed through from the small area on the left, a 15M continuation makes sense here and can play a similar range as NJ. This will be tied more closely to the DXY, so it could be NZDJPY gives us the trade we are looking for and not this pair.
GBPJPY : Looking for a small 5M stack in price here to mitigate a tag in and out from what I explain in the breakdown. Lessons learned from the start of this year is helping me gain clarity on the finer details of price, but a simple long play here after the sell structure below failed. EURNZD : If we look at the psychology of price and the message it is giving us, we can see the sell structure below failed to continue after the impulsive move. Therefore, we can now look for a 15M continuation for the longs now we have an impulsive confirmation to the upside. Risk entry within the structure and manage into the value area above. NZDJPY : This pair and NZDUSD are very similar in terms of price action and the setup I am looking for. Price has pulled back 50% of the prior leg, 4H limit is now active and dropped through so we can now look for any type of continuation to confirm the idea. Great range to play down to the low. NZDUSD : A very similar idea as NZDJPY here. A simple continuation now that price has followed through from the small area on the left, a 15M continuation makes sense here and can play a similar range as NJ. This will be tied more closely to the DXY, so it could be NZDJPY gives us the trade we are looking for and not this pair. 
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.
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.