Kiwi Yen looking bullish (40 pip intra move)
Bullish Shark Setup:
Long NZDJPY
Daily and 1Hour Bullish
Reasoning:
-reaction off of the daily bullish trendline
-price cleared previous support, which should become support again
Entry Trigger:
Aggressive- Limit order at 72.46
Conservative- Buy a bullish harmonic on the 1-5 minute timeframe if we get a pullback
-Today's largest amount of volume occurred at 72.46 (bullish market movers) They should push price up when it approaches again.
stop loss reasoning:
You could put your stop around 72.30 below the swing low, but i am more aggressive and i will be using a 10 pip stop and i'll use that second volume node i have labeled as my last line of defense
take profit reasoning:
that is where the most amount of BEARISH transactions occured because price when sideways as banks built positions then they moved it downward, the reversal zone for the shark to switch into a 5-0 is also right at that price point as well. 72.80.
I believe this trend is getting tired of going up so my TP is conservative here, if entry is triggered and price makes a new high i will move to break even.
-Peace, Love , and Profits
Long NZDJPY
Daily and 1Hour Bullish
Reasoning:
-reaction off of the daily bullish trendline
-price cleared previous support, which should become support again
Entry Trigger:
Aggressive- Limit order at 72.46
Conservative- Buy a bullish harmonic on the 1-5 minute timeframe if we get a pullback
-Today's largest amount of volume occurred at 72.46 (bullish market movers) They should push price up when it approaches again.
stop loss reasoning:
You could put your stop around 72.30 below the swing low, but i am more aggressive and i will be using a 10 pip stop and i'll use that second volume node i have labeled as my last line of defense
take profit reasoning:
that is where the most amount of BEARISH transactions occured because price when sideways as banks built positions then they moved it downward, the reversal zone for the shark to switch into a 5-0 is also right at that price point as well. 72.80.
I believe this trend is getting tired of going up so my TP is conservative here, if entry is triggered and price makes a new high i will move to break even.
-Peace, Love , and Profits