Get started
robertsfx_com

NZDJPY Short opportunity with multiple confluences

Short
New Zealand Dollar / Japanese Yen (PEPPERSTONE:NZDJPY)  
robertsfx_com  
PEPPERSTONE:NZDJPY   New Zealand Dollar / Japanese Yen
Trend Analysis Fibonacci Trend Lines trendlinebounce TRENDLINERETEST trendlineresisten Fibonacci Retracement
0
0
trendanalysis fibonacci trendline trendlinebounce trendlineretest trendlineresisten fibonacciretracement
1. Overall down-trend
2. Trendline going for a 3rd touch
3. AWR - Average weekly range HIGH is close to Fibonacci 0.618 AND the trendline

If the price respects the average weekly range it's lining up with the trendline and Fibonacci 0.618 at the same time.

These confluences line up perfectly and could mean a continuation of the down-trend. Good enough for me to take a short position.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.