After that, thir pair continue to move upside seems like breaking the structure. However, I never changed my bias and still looking for a short sell entry. I’m already anticipating this kind of fake move because it’s a typical market nature to catch people on the wrong side.
Now, that the price has broken back into the channel, the probabilty of this pair will go lower have become higher in my opinion. I will now just anticipating the price to form a corrective structure. In high probability area like this, even small corrective structure
Any break from any continuation pattern now will trigger my short sell entry with sl above the corrective structure with target up to the low of the and can even go lower depending on how the market reach that area.
Massive reward available in front of us,. Lets see if we can capitalize it or not now...
After waiting for quite long finally, NZDJPY now is seem like forming a bigger continuation pattern that what i've expected.
In H1 TF, its forming a bearish continuation pennant. I will now set a stop entry and wait for the break of this pennant at 71.550 to take a short entry, with sl abov the structure at 72.200, targeting up to 68.200.
Lets see how will this one play out..