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jojofang0901
May 12, 2021 5:43 PM

NZDJPY Watch For Bearish Breakout and Continuations Short

NZD/JPYOANDA

Description


Hello traders:

Looking at NZDJPY's price action for further selling opportunities.

We can see a HTF ascending channel correcting the price up to the previous highs, double tops.

On the LTF we see a "M" structure, Mini double tops, and a rising wedge.
All good bearish price action to give us confirmation for a strong reversal from the top.

Similar like AUDJPY price is breaking to the downside now, since its getting close to the bottom of the channel,
best to wait for a confirmed breakout follow by LTF continuation correction to get in.

Thank you
Comments
Deeppoketz
Not bad to start scaling in some shorts (cautiously)
jojofang0901
@Deeppoketz, Will see if price can breakout of the channel first to confirm further downside :) thx
financialflagship
Nice chart, keep up the good work. 😊
jojofang0901
@financialflagship, thx bud :)
Henry_Ross
Good job!
jojofang0901
@Henry_Ross, thank you appreciate it
Helical_Trades
Good chart buddy
jojofang0901
@Helical_Trades, thank you bud :) appreciate it
Babenski
nice idea here too
jojofang0901
@Babenski thx 🙏
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