PriceActionTrading
Long

$NZDJPY FOLLOW UP TO MY LONG IDEA

FX:NZDJPY   New Zealand Dollar/Japanese Yen
144 6 9
FOLLOW UP TO MY NZDJPY             IDEA ON GOING LONG.

PRICE HAS PRODUCED A VIABLE H4 SIGNAL TO GO LONG
MY ANALYSIS ON NZDJPY             IS THAT W1 IT HAS FORMED A 3 BAR LONG CONFIRMATION
REFER TO MY PREVIOUS TRADE FOR FURTHER ANALYSIS
PRICE HAS PRODUCED A INSIDE BAR FAKEY ON THE H4 SCALE, EXACTLY MY FAVOURITE KIND OF TRADE
ON THE D1, PRICE HAS FAILED TO CLOSE BELOW 89.00 TWICE.

I WOULD GO LONG NOW WITH A 30 PIPS STOP LOSS
RISK REWARD IS GOOD FOR THIS TRADE BECAUSE IF PRICE WERE TO BREAK THE LOW OF THE H4 PIN BAR AS INDICATED, TRADE IS ALREADY INVALID AND PRICE WILL DEFINITELY DROP LOWER
HOWEVER, GIVEN MY EXPERIENCE WITH INSIDE BAR FAKEY FORMATION. IT IS A GOOD SIGNAL THAT PRODUCES GOOD RESULT, ALWAYS WORTH GETTING IN IMMEDIATELY

SUBSCRIBE AND LIKE MY IDEAS TO SEE MORE OF IT.
HAPPY PIPPING.
D1 REPRESENTATION OF MY IDEA. NOTE THE 50SMA AND 200SMA ACTING AS SUPPORT.

NOTE: ON THE D1, PRICE HAS FAILED TO CLOSED BELOW 89.00 ONCE.
snapshot
Reply
THERE YOU GO. MONEY IN THE BANK. CLOSED HALF, MOVED TO BE, LETTING THE OTHER HALF ROAM TO TP2 AND BEYOND 91.5.
Reply
workingtraders PriceActionTrading
2 years ago
played out very well. Great job.
Reply
PriceActionTrading workingtraders
2 years ago
Thanks. my favourite 3 bar formation. always worth the risk.
Reply
Surgical strike.
Reply
Anyways, expect some pullback towards belowmentioned drawn trendline today and tomorrow.
Possible re entry upon viable H4 rejection pattern of said trendline or formation of simple bullish engulfing. Will update if opportunity arises.
We are aiming for 92.
I believe it is difficult to penetrate below 90. round number after closing above it on the W1. Thus, those who are long with me are safe IMO. Look for re entry at a bargain.

snapshot
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out