RaynLim

Trading Opp. Amid Sideways Waves

Long
FX:NZDJPY   New Zealand Dollar / Japanese Yen
Trading can be exhilarating when setups let you seize chances without wrestling with the broader trend. 🚀

Let's talk New Zealand Yen – a treasure trove of potential this week, regardless of the overarching movement.

Gaze upon the weekly chart, and you'll spot the bearish shark pattern, already in motion since 88.24. Kudos if you've joined the ride! I'd ride it to the first target at 84.36, where the 5-0 pattern gifts a buying prospect. Our watchword: Will the market cradle within the blue box?

Turning to the daily chart, a bullish bat pattern wraps up at 84.25. And if you had the insight to short on the bearish crab pattern, cheers! Your pockets are now heavier by 212 pips, a cool 2,120 USD.

Strolling through the four-hour chart, a gartley pattern is ripe for the picking at 85.56 – a splendid buying occasion.

If your sights are set on shorting, that 86.73 resistance line beckons. Zoom into the one-hour chart, and another gartley at 85.92 awaits, accompanied by a bearish shark at 86.82. 🦈📊

But wait, there's more – the 15-minute chart boasts a deep gartley at 86.20. So many opportunities, all within a single currency!

A sign that sideways markets birth harmonic patterns, right? But remember, clarity in strategy is key. Decide if you're hitting that first target and running, or holding on for the second despite opposing patterns.

And here's the golden rule: either chart your trade in advance or find a mentor deeply immersed in the trading fray.

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