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Hello traders:
Similar bearish price on NZDJPY, as we have the same expanding structure that hits the higher time frame double tops.
Price failed to continue higher, instead, bearish reversal price action on the lower time frames.
We see a clear bearish impulse phase down, now there is lower time frame consolidation, good signs of further bearish momentum.
Watch for correction to complete and look for sell down to previous low and lows of the HTF expanding structure.
Thank you
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⋅ Price is pushing down now:
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⋅ Price is impulsing down, watch for further correction for more downside next week:
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⋅ After hitting the previous lows
price formed into a descending channel reversal
and slowing pushing up now
potential ending the bearish momentum
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⋅ Watch for this bearish
breakout follow by
continuation before entry