NZDJPY is reaching a key area, and it's time to look for short here. We have many reasons for that, as: divergence and overbought RSI, fib levels confluence and supply zone. All as shown in the chart.
Like if you agree, support and follow please!
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Price is on the level now, but still no evidence of weakness here. I'll be looking for daily bearish candle formation to short this one coz the JPY is still very weak.
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I'm shorting here, due to low R:R. And i'll add more if it break 82
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Still not showing big signs of weakness here. Tomorrow can be the game changer day, so wait for better signals before shorting this pair.
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Trade active
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Lets hope it's not a fake out :)
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Realy nice drop! Those who didn't make an entry wait for the restest of structure next week :)
if dollar index will go up will the NZD/JPY foolow it?
adambiers
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Looks good bud!! I'm in again!!
PA-FX
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@adambiers,Nice, I am in with a small position too :)
adambiers
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@abozahra, I have 1 open position currently and a pending order, set it relatively high swing from the start of the sideways move! This could be a big move!
PA-FX
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@adambiers, Yeah that's what i am hoping for here, a long term one :)
adambiers
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@abozahra, similar set ups on AU/JPY and UJ hmmmm! I wish us luck brotha!
PA-FX
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@adambiers, Thx! Yeah almost all JPY pairs are on a good shorting levels :)
yofxtrader
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Good idea. Looking to go with you, mainly because looking at the charts, I like short usdjpy and short nzdusd, so it makes sense to short nzdjpy.
Where would you place your SL? Would it be above 61,8% correction? What is then your risk / reward target?
Regards,
PA-FX
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@yofxtrader, It depends on when i go short. I will not be using a Sell limit on this trade. Mainly i'll be watching price action on 1-4H candles and waiting for a close below and BO of the TL. and gonna trail SL above the 4H 20 MA .