NZDJPY , SWING ON LONGS..!!
Observations 1
On the outer structure we can clearly see a descending structure of which the zones are a parallel of the dynamic resistance .
secondly we see the presence of a descending channel .about the current dynamic support
the presence of this falling wedge is a clear reversal pattern up about a high value area which is our resistance zone .
lastly we can see we are at a trap in between the static resistance and support zones that are clearly visible from the presence of the strong wicks from bot sides .
what will we be looking at for the day or for our entries?
we will be looking for a clear close of a candle from either sides of the resistance or support to anticipate for signs of higher highs and higher lows sides , from that price action we will hop on the lower timeframe to look for concise entry according to our trading plans .
On the outer structure we can clearly see a descending structure of which the zones are a parallel of the dynamic resistance .
secondly we see the presence of a descending channel .about the current dynamic support
the presence of this falling wedge is a clear reversal pattern up about a high value area which is our resistance zone .
lastly we can see we are at a trap in between the static resistance and support zones that are clearly visible from the presence of the strong wicks from bot sides .
what will we be looking at for the day or for our entries?
we will be looking for a clear close of a candle from either sides of the resistance or support to anticipate for signs of higher highs and higher lows sides , from that price action we will hop on the lower timeframe to look for concise entry according to our trading plans .